@article{ff5af1285ae24495aed632248779513e,
title = "A new interpretation on the optimal density regulations: Closed and open city",
abstract = "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 not only downward adjustment to the market density at boundary locations using maximum FAR regulation but also upward adjustment at central locations using minimum FAR regulation. On the other hand, an open city requires only the former. The common practice of imposing only maximum FAR regulation is thus insufficient for closed cities although it is effective for open cities.",
keywords = "Congestion, Externalities, Floor area ratio, Urban growth boundary",
author = "Tatsuhito Kono and Joshi, {Kirti Kusum}",
note = "Funding Information: This paper is a completely revised version of Kono et al. (2009) titled “Floor Area Ratio and Urban Boundary Regulation in Monocentric Cities with Traffic Congestion”. We are very grateful to the co-author of the paper, Y. Morita. Furthermore, we are grateful to T. Miyagi, H. Morisugi, S. Mun, K. Sasaki, and H. Yamasaki for their valuable advice. The authors are indebted to the editor H. Pollakowski and an anonymous referee for helpful comments. This research was supported by grants from the Ministry of Education, Culture, Sports, Science and Technology (Grant-in-Aid for Scientific Research (C) 22560525 ), which are gratefully acknowledged. Despite assistance from many sources, any errors in the paper remain the sole responsibility of the authors. ",
year = "2012",
month = sep,
doi = "10.1016/j.jhe.2012.07.001",
language = "English",
volume = "21",
pages = "223--234",
journal = "Journal of Housing Economics",
issn = "1051-1377",
publisher = "Academic Press Inc.",
number = "3",
}
