Trophy architects and the ‘dark matter' of London’s planning system
A quarter of London's skyscrapers are designed by architects who have already won a lifetime achievement award and whose work thus has the imprimatur of 'iconic design'; this compares with just 3% in Chicago. According to research by Paul Cheshire and Gerard Dericks, employing such 'trophy architects' can get a London developer a valuable extra 19 floors on a representative site. Their study shows how in the highly uncertain world created by the UK planning system's decision-making method, it is worth spending a fortune to 'game' the system and get more space when you are successful. They explain the costs to society of these incentives to 'game' the system.
Year of publication: |
2014-10
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Authors: | Cheshire, Paul ; Dericks, Gerard |
Institutions: | Centre for Economic Performance, LSE |
Subject: | Land use regulation | regulatory costs | rent-seeking | office markets |
Saved in:
freely available
Extent: | application/pdf |
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Series: | |
Type of publication: | Book / Working Paper |
Classification: | H3 - Fiscal Policies and Behavior of Economic Agents ; J6 - Mobility, Unemployment, and Vacancies ; Q15 - Land Ownership and Tenure; Land Reform; Land Use; Irrigation ; R52 - Land Use and Other Regulations |
Source: |
Persistent link: https://www.econbiz.de/10010933778