Kono, Tatsuhito; Joshi, Kirti Kusum - In: Journal of Housing Economics 21 (2012) 3, pp. 223-234
Optimality of urban density regulations differs between a closed city and an open city. We demonstrate, by examining optimal floor area ratio (FAR) regulation, how to control building size to mitigate traffic congestion externality in a monocentric city. Results show that a closed city requires...