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Internalizing Externalities Through Private Zoning: The Case of Walt Disney Company's Celebration, Florida

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  • Stringham, Edward P.
  • Miller, Jennifer K.
  • Clark, Jeff Ray

Abstract

Do zoning rules need to come from government? This article highlights the economic features of one of the largest privately-planned towns: Celebration, Florida. The 10,000-resident town includes numerous privately-provided public goods as well as rules that reduce negative externalities within the community. These features are designed to internalize exter-nalities and maximize the value of the community to customers. We discuss how private planners, in contrast to government zoning boards, have an incentive to figure out which community features consumers value. Using this master-planned community as an example of a successful corporate venture, we show that the private sector can successfully provide zoning on a citywide scale.

Suggested Citation

  • Stringham, Edward P. & Miller, Jennifer K. & Clark, Jeff Ray, 2010. "Internalizing Externalities Through Private Zoning: The Case of Walt Disney Company's Celebration, Florida," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 40(2), pages 1-8.
    • Handle: RePEc:ags:jrapmc:132444
    DOI: 10.22004/ag.econ.132444
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    References listed on IDEAS

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    Cited by:

    1. Caleb J. Miles & Edward Peter Stringham, 2014. "Eliminating the Perceived Legitimacy of the State," Palgrave Macmillan Books, in: Austrian Theory and Economic Organization, chapter 0, pages 147-174, Palgrave Macmillan.
    2. Michael Makovi, 2019. "Government vs. Governance: Libertarianism and Private Communities," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 34(Spring 20), pages 39-57.
    3. Martín Krause, 2015. "Buoys and Beacons in Economics," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 30(Spring 20), pages 45-59.
    4. Edward Stringham, 2014. "Extending the Analysis of Spontaneous Market Order to Governance," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(2), pages 171-180, June.

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