This Article Full Text (PDF) References Alert me when this article is cited Alert me if a correction is posted Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Add to My Marked Citations Citing Articles Citing Articles via HighWire Citing Articles via Google Scholar Google Scholar Articles by Micelli, E. Search for Related Content Social Bookmarking                   What's this?

Development Rights Markets to Manage Urban Plans in Italy

Department of Urban Planning, Santa Croce 1957, 30135 Venice, Italy, micelli{at}iuav.it

Urban economists and planners have been debating the possibility of using innovative methods and tools in managing urban plans to increase their effectiveness. According to many theoretical contributions, a major step would lie in shifting from the use of authoritative tools towards market-based ones. The institution of a development rights market in order to implement urban plans represents a major attempt to transfer into the practical urban government such a theoretical perspective. Several significant elements emerge from an analysis of the major case studies of development rights markets in Italy. First, markets for development rights do not replace the command-and-control tools traditionally used in planning. In reality, the success of the new markets seems to depend significantly on their integration with the latter. Furthermore, markets for development rights have not proved to be automatic devices led by an invisible hand: the visible hands of the administrations take steps to establish market rules and to promote them, reducing transaction costs as much as possible.

CiteULike    Connotea    Del.icio.us    Digg    Reddit    Technorati    What's this?

This article has been cited by other articles:

				L. W.-C. Lai Neo-Institutional Economics and Planning Theory Planning Theory, March 1, 2005; 4(1): 7 - 19. [PDF]