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What price planning? Reimagining planning as “market maker”

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  • Alex Lord
  • Philip O’Brien

Abstract

Planning has been widely vilified for the role it plays in disrupting the development process, hindering economic growth and creating the conditions for undersupply in housing markets, characterised by unaffordability. In this paper we hope to show that the analyses that support this view of planning are incomplete because of the theoretical limitations of the neoclassical tradition from which they emerge. By way of alternative we posit an account of planning that draws upon game theory and behavioural economics to explore those aspects of the activity that serve to animate the development process. This interpretation of planning as a “market maker” is explored through empirical case study research from three continental European contexts where planning is charged with playing an economically active role to control liquidity.

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  • Alex Lord & Philip O’Brien, 2017. "What price planning? Reimagining planning as “market maker”," Planning Theory & Practice, Taylor & Francis Journals, vol. 18(2), pages 217-232, April.
    • Handle: RePEc:taf:rptpxx:v:18:y:2017:i:2:p:217-232
    DOI: 10.1080/14649357.2017.1286369
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    References listed on IDEAS

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    Cited by:

    1. O’Brien, Philip & Lord, Alex & Dembski, Sebastian, 2020. "How do planners manage risk in alternative land development models? An institutional analysis of land development in the Netherlands," Land Use Policy, Elsevier, vol. 91(C).
    2. Dunning, Richard J. & Moore, Tom & Watkins, Craig, 2021. "The use of public land for house building in England: Understanding the challenges and policy implications," Land Use Policy, Elsevier, vol. 105(C).

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