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With urban planning policy in transition in many parts of the world, the need to understand the theoretical bases for planning and to ground discussion about policy innovations on theory is as important as ever. This essay reviews the relevance of three economic paradigms to the theory of development control. It is written as a technical review with the purpose of explaining, contrasting and contextualising the contributions of these paradigms. Much has been written about the Pigouvian case for regulative planning. The Coasian literature is strong especially in the US but is not so well known elsewhere; and little has been written that draws together the diverse perspectives offered by the public choice school. This essay has been written particularly for academic planners and urban social scientists in the UK, and in other European and Commonwealth countries who are not familiar with the technical arguments …