Discussions and debates on land policies have often been unrewarding because analysts have not understood the relationship between their arguments and the arguments of other analysts. Similarly, land policies have often failed because their designers did not carefully relate the policy tools to the particular market failures and public objectives. This chapter presents a framework for relating the economists’ analysis of the market and economic efficiency with the analysis of other concerns broadly described by the term equity.
KeywordsIncome Distribution Economic Efficiency Market Failure Monopoly Power Land Market
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