Land policy comprises all official procedures that have impact on the development of land markets. Even without a land-use planning system, the state will influence land markets by protecting and underwriting property rights that are fundamental to the functioning of land markets. However, the existence of a planning system gives the state the opportunity to modify the operation of markets in the interests of society. The inability of land markets to consistently achieve efficient and equitable land uses and efficient and equitable levels and patterns of land development provides a strong case for planning. Welfare economics provides a framework for understanding this failure of markets, and provide a rational for a planning system with social objectives. However, in reality planning may not set out to maximise welfare but in response to government policies, physical planning principles, and electoral pressure. Public Choice theory as a positive theory of planning provides a wide-ranging critique of the role of the public sector in promoting better market functioning.

(1) Introduction: Land reallocation and land policy; (2) The basics of land and housing economics; (3) land rent and location theory; (4) Market Failure I: Allocation; (5) Market Failure II: Distribution; (6) Planning and Land markets; (7) Rent-Seeking behaviour on land markets; (8)Measures and conflicts of aim; (9) Public Choice, planning and land markets

Anmeldung erforderlich: ifip@tuwien.ac.at

Prüfungsanmeldung ausschließlich über TISS!

Ort: TISS

Lecture notes for this course are available.