Abstract
The purpose of this study is to evaluate the effects of deregulation measures from the standpoint of externalities control. In this study, the method of evaluation is to estimate the externalities of the Comprehensive Building Design System (CBDS) in Chiyoda Ward using a hedonic approach. The results of this study are as follows.
The building constructed by the CBDS brings the positive externalities in the neighborhood. The positive externalities of the CBDS increase in proportion to the floor space or the public open space. Even if the deregulation by the CBDS brings the negative externalities in the neighborhood, the negative externalities influence urban environment in limited areas compared with the positive externalities of the public open space. Additionally, the positive externalities in the zone of higher Floor Area Ratio (FAR) are larger than the zone of lower FAR.
