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Applied and bridge studies study record
Hollow Win theory & mechanismsJane Jacobs and Urban Renewal as a Hollow Win
STATUS · Manuscript in progressSSRN · Not yet posted
MECHANISM
Identify the incentive structure and the condition that would falsify the claim.
RULE CHANGE
Read the intervention only after the paper shows how the current payoff space fails to support system welfare.
READER USE
Use the summary to see where private gain creates system exposure, then check the study record.
Contribution — what this adds to the conversation
Provides a formal Hollow Win proposition and Decision Accounting reconstruction for a major historical policy failure.
WHAT'S NEW · Reinterprets Jane Jacobs as a system-welfare analyst and applies SAPM/Decision Accounting to urban renewal, which is novel within the corpus.
The paper applies the System Asset Pricing Model (SAPM) and Decision Accounting framework to postwar American urban renewal, showing that redevelopment projects often produced 'Hollow Wins': visible gains for officials and developers while destroying system welfare for displaced communities. Through detailed case studies of the Cross-Bronx Expressway, Lincoln Center, Boston's West End, and Pruitt-Igoe, the paper estimates that each dollar of redevelopment benefit destroyed between $5.90 and $43.30 in system welfare. The paper proposes Decision Accounting Field 17 as a reform to require pre-clearance records that account for neighborhood-system stock.