Wednesday, July 7, 2010
Michael Lewyn (Florida Coastal) has posted What Would Coase Do? (About Parking Regulation) on SSRN. Here's the abstract:
Like many government regulations, municipal minimum parking requirements exist to prevent externalities - most notably the congestion, pollution and greenhouse gas emissions that occur when motorists drive around a city searching for scarce parking. But because such regulations make parking (and thus driving) cheaper, such regulations may in fact increase congestion and pollution, thus creating, rather than reducing, externalities.
[Comments are held for approval, so there will be some delay in posting]