What Would Coase Do? (About Parking Regulation)
American municipalities typically require landowners to provide visitors and guests with ample amounts of parking, in order to prevent externalities such as cruising (drivers wasting gasoline and polluting the air while searching for scarce parking). However, minimum parking requirements may create social harms that outweigh this benefit. By artificially increasing the supply of parking, minimum parking requirements effectively subsidize driving, thus increasing rather than decreasing pollution and congestion.
Michael E. Lewyn. "What Would Coase Do? (About Parking Regulation)" Fordham Environmental Law Review 22 (2010): 89-118.
Available at: http://works.bepress.com/lewyn/70