Modeling a micro-structure of agglomeration economies, this article derives a second-best benefit evaluation formula for urban transportation improvements. Without explicitly modeling the sources of agglomeration economies, Venables (JTEP 2007) investigated the same problem. This article...

In this monograph several aspects of externalities in cities are analyzed using extensions of a standard residential land use model. Topics covered are optimal and market city sizes, local public goods, traffic congestion, externalities between different types of households, and the growth of a...

Modeling a micro-structure of agglomeration economies, this article derives a second-best benefit evaluation formula for urban transportation improvements. Without explicitly modeling the sources of agglomeration economies, Venables (JTEP 2007) investigated the same problem. This article...

The Japanese government has advocated a wide range of policy measures to reduce greenhouse gas emissions from transportation, e.g. improvements of gas mileage, development of alternative fuel vehicles, shifts to walking, bicycles and public transportation for passenger transportation and to...

We examine two issues on duciary duty.First,what is the essential structure of duciary duty?Second,does duciary duty have elements of a mandatory rule? Concerning the rst question,the formation of a duciary relationship involves the di culty of writing a contract on the acts that the duciary has...

The Department for Transport in the United Kingdom has been a pioneer in including indirect benefits in the cost–benefit analysis of a transport project. They identify three types of wider impacts, i.e., (1) agglomeration, (2) increased or decreased output in imperfectly competitive markets,...

The Henry George Theorem (HGT) states that, in first-best economies, the fiscal surplus of a city government that finances the Pigouvian subsidies for agglomeration externalities and the costs of local public goods by a 100% tax on land is zero at optimal city sizes. We extend the HGT to...