Marginal cost pricing and eminent domain / by Florenz Plassmann and T. Nicolaus Tideman.

Author
Plassmann, Florenz [Browse]
Format
Book
Language
English
Published/​Created
Boston : Now, ©2011.
Description
1 online resource (110 p.) : ill.

Availability

Available Online

Details

Subject(s)
Series
Summary note
There are three separate strands of literature in economics that are related to the efficiency of takings under eminent domain: one addresses the question of optimal compensation for properties that are taken, the second inquires how governments might learn the values of properties that they consider taking, while the third analyzes solutions to the problem of land assembly. This essay reviews these strands of literature and argues that the principle of marginal cost pricing can be used as a unifying principle for integrating them.
Bibliographic references
Includes bibliographical references (p. 105-110).
Source of description
Description based on online resource; title from PDF title page (NOW, viewed March 12, 2013).
Contents
  • 2. The general framework
  • 2.1 Efficient and fair development --
  • 3. Marginal cost pricing, land-use incentives, and just compensation
  • 3.1 Characterizing efficient taking and investment decisions
  • 3.2 Requiring governments to bear the marginal costs of their actions
  • 3.3 Requiring property owners to bear the marginal costs of their actions
  • 3.4 Full compensation for taking private property
  • 3.5 Efficient and fair takings
  • 3.6 Compensation rules that assign to owners the full social net benefit of the taking --
  • 4. Marginal cost pricing and accurate self-assessment
  • 4.1 Mechanisms that lead to efficient takings if there is a single owner who is entitled to the entire social net benefit as compensation
  • 4.2 Self-assessment mechanisms that provide an incentive for truth-telling if there is either one or more than one owner and owners receive the amount that they announce as compensation
  • 4.3 The fairness of self-assessment in takings under eminent domain
  • 4.4 Accurate self-assessment with the PT mechanism and efficient takings --
  • 5. Marginal cost pricing and efficient land assembly
  • 5.1 The problem of land assembly
  • 5.2 Information requirements for efficient and fair land assembly
  • 5.3 Mechanisms that ameliorate the problem of land assembly but do not lead to either efficient or fair land assembly
  • 5.4 Two mechanisms that guarantee efficient but not necessarily fair land assembly
  • 5.5 A mechanism that leads to fair but not necessarily efficient land assembly
  • 5.6 Comparison of land assembly mechanisms --
  • 6. Conclusion
  • A. Appendix
  • References.
ISBN
  • 9781601985057 ((electronic bk.))
  • 1601985053 ((electronic bk.))
OCLC
768863517
Statement on language in description
Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage. Read more...
Other views
Staff view

Supplementary Information