ABSTRACT
CONTENTS 15.1 Economic Value of Residential Environment ....................................... 211 15.2 Method and Data.......................................................................................213 15.3 Hedonic Price Analysis.............................................................................215 15.4 Analysis of Subdivision............................................................................218 15.5 Benefits of Parks in Densely Built Residential Blocks.........................220 15.6 Effects of Widening a Road......................................................................221 15.7 Impact of Relaxing FAR Regulation .......................................................224 15.8 Conclusion ..................................................................................................226 Acknowledgments ..............................................................................................226 References.............................................................................................................227
Objectively showing the propriety of a policy is more and more recognized to be important in the process of policy-making. However, in many cases, this is difficult because of the lack of effective evaluation methods for policies. Taking city-planning systems as an example, so far the procedures of planning have only been justified in view of the physical needs of environmental improvement and in view of the legitimacy of planning procedures. Yet there is no procedure for confirming the appropriateness of a policy based on an objective, quantitative evaluation of the policy, although this is agreed to be very important.
