The negative externality of urban transport is the related to consumption of the environmental resources which are characterized by common property right. In the paper, environmental resources can be divided into two categories: The first category is taken from nature, as non-exclusive and non-exchageable and makes private property almost impossible to define. These environmental resources include the atmosphere, sunlight, common pool water, biodiversity and other items which are purely public goods. Second category is the quasi-public goods which is not strictly characteristics of non-competitive and non-exclusive——land and the urban transport infrastructure building on the urban land. At different stages of urban and urban transport development, , the characterization of urban transport negative externality is different. At the same time, both the property features of two kinds of environmental resources are changing.Because of the common property right, the environmental resources lack of two important rights——exclusive right and tradable right. From the property right perspective, Key issue is to find out the efficient property rights mechanisms and institutional arrangements which make it easily to define property rights and make property rights trading has become feasible. The operational property rights mechanism for environmental resources is mixed property rights mechanism. This mixed property rights mechanism is a balance structure of "public property rights and private property rights", and integrates the advantages of the two kinds of property rights: (1) transaction's subjects: enterprises, the people, government and all stakeholders who consume environmental resources; (2) transaction's objects: environmental common pool resources; (3) contract type: mixed public and private rights contract; (4) the price mechanism is the mixed price mechanism including price, taxes and fees.The specific institutional arrangements of mixed property rights mechanism are:(1) Property rights restrictions: If the government controls the degree of implementation of property rights, we used to call it restricted property rights. Property rights are generally restricted by the environmental regulation through government's direct ordering policies. The restrictions on the property rights will influence people's choice by controlling the extent of the exercise of property rights. (2) Property rights division. This institution arrangement is not only refers to separate ownership, using right, operating right, disposition, but also to certain property items were further broken down into more specific empowerment. In practice, property rights division is mainly manifested in two levels: separating operation right of certain environmental resources (such as land, forests, water, etc.) through a certain price mechanism to allow production in marginal benefit equal to the marginal cost, this can make market-oriented supply possible. Second, separating the usage right of certain environmental resources (such as air, water, etc.) through the price mechanism reflecting its social costs.(3) Creation of new property rights. Under the premise of the public demand for environmental quality, separate the pollution into a number of standard units, establishing a new legal right that allow people discharge pollution according to pollution rights. Many nations also allow firms to trade pollution right in order to carry out the aggregated control of pollutant emission.(4) Perceived property rights adjustment: There is no authoritative organization's intervention, but on the basis of fairness, parties are able to implement a bargaining rule which takes into account some fairness attribute (as that of 'reciprocal concessions' with respect to their perceived default options), than they may reach the standard Coasian bargaining area and thus solve their externality by market exchange.When mankind's economic and social activities have not affected the environment quality and quantity, from the point of property rights characteristics environmental resources remain pure public goods. For people, there are market demands for environmental resources but without demand revelation (no price signals). At this time, internalized policies and measures play a substitute role for the pricing mechanism, through the ownership restrictions to achieve internalization of negative externalities. With the growth of mankind's economic and social activities, the characteristics of the property rights of environmental resources changed——competition in quality and quantity. Efficient system of property rights arrangements should discovery price mechanism and creates demand revelation. Because of lacking of exclusive and tradable rights, transactions can not be fulfilled in the full bundles of property rights, then separation of property rights, creation of new property rights and perceived property rights adjusting to be introduced to reflect the social costs become inevitable.Empirical research and the application of theory, the main conclusion of the study are as follows: 1 Institutional reason of China's urban transportation negative externalitiesChina's urban transport externalities are caused by the disharmony of urban development stage and transportation development stage; lacking of effective property rights arrangement for environmental resources I and environmental resources II.2 The suggestions of governance policies(1) The fundamental cause of transportation problem is the poor match of urbanization stage and transport stage. Therefore, it is necessary to coordinate them, recommend the TOD, and guarantee the priority of public transportation when they need the land resources.(2) In the special developing period in China, it is important to restrict private property rights and re-organize public property rights toward public transportation and non-automobile transportation by administrative orders.(3) It is significant to take advantage of combined market in multi-level, achieve transaction of property rights of environmental resources through separation and creation of property rights.(4) It is needed to enhance the ability of public transportation to provide intact transportation products. The intact transportation products demonstrate how to transfer people and goods from the beginning to the terminal in terms of time, price and service. |