heterogeneity and real estate market distortions, zoning could be less efficient than, as efficient as, or more efficient than …We examine the working mechanisms and efficiencies of zoning (regulation of floor area ratios and land-use types) and … pricing instruments. However, when the zoning enacted deviates from the optimum, zoning not only becomes inferior to …

regulatory mechanisms in the housing market (building height restrictions, zoning and property taxation). The Pigouvian toll is … suggested by a model that disregards zoning. In general, this implies that decision making on urban road pricing can ignore …