Internalizing Externalities Through Private Zoning: The Case of Walt Disney Company's Celebration, Florida
Do zoning rules need to come from government? This article highlights the economic features of one of the largest privately-planned towns: Celebration, Florida. The 10,000-resident town includes numerous privately-provided public goods as well as rules that reduce negative externalities within the community. These features are designed to internalize exter-nalities and maximize the value of the community to customers. We discuss how private planners, in contrast to government zoning boards, have an incentive to figure out which community features consumers value. Using this master-planned community as an example of a successful corporate venture, we show that the private sector can successfully provide zoning on a citywide scale.
Volume (Year): 40 (2010)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://jrap-journal.org/index.htm|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005.
"Why Have Housing Prices Gone Up?,"
American Economic Review,
American Economic Association, vol. 95(2), pages 329-333, May.
- Edward L. Glaeser & Joseph Gyourko & Raven Saks, 2005. "Why Have Housing Prices Gone Up?," NBER Working Papers 11129, National Bureau of Economic Research, Inc.
- Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005. "Why Have Housing Prices Gone Up?," Harvard Institute of Economic Research Working Papers 2061, Harvard - Institute of Economic Research.
- Quigley, John M. & Raphael, Steven, 2006.
"Regulation and the High Cost of Housing in California,"
Berkeley Program on Housing and Urban Policy, Working Paper Series
qt3hh7s35m, Berkeley Program on Housing and Urban Policy.
- John M. Quigley & Steven Raphael, 2005. "Regulation and the High Cost of Housing in California," American Economic Review, American Economic Association, vol. 95(2), pages 323-328, May.
- Edward Stringham, 2006. "Overlapping Jurisdictions, Proprietary Communities, and Competition in the Realm of Law," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 162(3), pages 516-534, September.
- Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64, pages 416-416.
- Richard K. Green & Stephen Malpezzi & Stephen K. Mayo, 2005.
"Metropolitan-Specific Estimates of the Price Elasticity of Supply of Housing, and Their Sources,"
American Economic Review,
American Economic Association, vol. 95(2), pages 334-339, May.
- Richard K. Green & Stephen Malpezzi & Stephen K. Mayo, 1999. "Metropolitan-Specific Estimates of the Price Elasticity of Supply of Housing, and Their Sources," Wisconsin-Madison CULER working papers 99-16, University of Wisconsin Center for Urban Land Economic Research.
- Siegan, Bernard H, 1970. "Non-zoning in Houston," Journal of Law and Economics, University of Chicago Press, vol. 13(1), pages 71-147, April.
- Whitener, Leslie A. & McGranahan, David A., 2003. "Rural America Opportunities and Challenges," Amber Waves, United States Department of Agriculture, Economic Research Service, February.
- Caplan, Bryan, 2001. "Standing Tiebout on His Head: Tax Capitalization and the Monopoly Power of Local Governments," Public Choice, Springer, vol. 108(1-2), pages 101-122, July.
- Daniel P. McMillen & John F. McDonald, 2002. "Land Values In A Newly Zoned City," The Review of Economics and Statistics, MIT Press, vol. 84(1), pages 62-72, February.
When requesting a correction, please mention this item's handle: RePEc:ags:jrapmc:132444. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.