Abstract
One only needs to cast a glance at urban activities to realise the degree to which actions are encouraged or constrained in some way in an attempt to bring about a more efficient allocation of resources: control of urban traffic flows, subsidies to public transport, planning controls and limits on permitted housing densities — to name but a few. In addition, public sector infrastructure projects (such as roads, bridges, airports) will generally affect the well-being or welfare of a large number of individuals, and since many of these benefits (and costs) are of a non-monetary nature, economic theory must provide the means to assess such changes.
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© 1988 Paul N. Balchin, Jeffrey L. Kieve and Gregory H. Bull
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Balchin, P.N., Kieve, J.L., Bull, G.H. (1988). Welfare Economics, Land and the Environment. In: Urban Land Economics and Public Policy. Macmillan Building and Surveying Series. Palgrave, London. https://doi.org/10.1007/978-1-349-19444-5_6
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DOI: https://doi.org/10.1007/978-1-349-19444-5_6
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