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Tradable planning permits versus auctioned tradable development rights: different trading agents, different policy outcomes

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  • Eliška Vejchodská

Abstract

The tradable planning permit (TPP) policy seeks to limit the land take by development. It can be used in countries where development rights are vested by land-use planning to certain landowners only. TPPs are traded among public authorities. We introduce here a new policy, called the auctioned tradable development rights (ATDR) policy, which takes advantage of unvested rights of development and of trading among private actors. We compare the TPP, the ATDR policy and our baseline land-use planning model using a set of criteria. There are trade-offs within compared models. Both trading policies extend opportunities for land protection from development in exchange for higher transaction costs (highest in the ATDR policy). Trading policies seek also to recapture a part of development rent, decrease rent-seeking, and locate new development more effectively from the investors' perspective. However, trading among public authorities in the TPP model may hinder attaining these effects.

Suggested Citation

  • Eliška Vejchodská, 2016. "Tradable planning permits versus auctioned tradable development rights: different trading agents, different policy outcomes," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 59(8), pages 1418-1437, August.
    • Handle: RePEc:taf:jenpmg:v:59:y:2016:i:8:p:1418-1437
    DOI: 10.1080/09640568.2015.1077105
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    References listed on IDEAS

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    1. Robert W. Hahn & Robert Stavins, 1999. "What Has the Kyoto Protocol Wrought? The Real Architecture of Tradable Permit Markets," Books, American Enterprise Institute, number 52837, September.
    2. Stavins, Robert & Hahn, Robert, 1999. "What Has Kyoto Wrought? The Real Architecture of International Tradable Permit Markets," RFF Working Paper Series dp-99-30, Resources for the Future.
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    1. Elisabeth Marquard & Stephan Bartke & Judith Gifreu i Font & Alois Humer & Arend Jonkman & Evelin Jürgenson & Naja Marot & Lien Poelmans & Blaž Repe & Robert Rybski & Christoph Schröter-Schlaack & Jar, 2020. "Land Consumption and Land Take: Enhancing Conceptual Clarity for Evaluating Spatial Governance in the EU Context," Sustainability, MDPI, vol. 12(19), pages 1-21, October.

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