Optimum vs. Equilibrium Land Use Pattern and Congestion Toll
David Pines and
Eytan Sheshinski ()
Bell Journal of Economics, 1973, vol. 4, issue 2, 619-636
This paper presents a comparison between optimum and competitive land use patterns within an urban area. The concept of equilibrium in this paper pertains to five sectors: households, housing producers, composite commodity producers, land transactors and transportation authority. The concept of optimum referred to in this paper is the maximum utility level which can be realized provided that equals are treated equally. This optimum allocation can be supported by a competitive price system if a warranted congestion toll is collected by the transportation authority and redistributed as a lump sum subsidy. If less than the warranted congestion toll is collected, the resulting competitive allocation is distorted and then the competitive city tends to be more suburbanized than the optimum city.
References: Add references at CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
http://links.jstor.org/sici?sici=0005-8556%2819732 ... O%3B2-J&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:rje:bellje:v:4:y:1973:i:autumn:p:619-636
Ordering information: This journal article can be ordered from
https://editorialexp ... i-bin/rje_online.cgi
Access Statistics for this article
More articles in Bell Journal of Economics from The RAND Corporation
Bibliographic data for series maintained by ().