Economics of Eminent Domain: Private Property, Public Use, and Just Compensation

The Economics of Eminent Domain: Private Property, Public Use, and Just Compensation presents an overview of the economics of eminent domain. Beginning with a brief review of the relevant case law for both physical acquisitions and for regulatory takings, the authors survey the economics literature examining eminent domain. The next section considers the economic justification for eminent domain, focusing on the public use requirement and the land assembly problem. It then examines the just compensation requirement, focusing primarily on its distributional implications. The authors survey the literature on the impact of compensation on the incentives of landowners to invest in property subject to a taking or regulatory risk and of the government to exercise its taking or regulatory powers. Throughout The Economics of Eminent Domain, the authors use a simple modeling framework that can be adapted to address various issues discussed in the literature allowing examination using a common paradigm.Miceli, Thomas J. is the author of 'Economics of Eminent Domain: Private Property, Public Use, and Just Compensation', published 2007 under ISBN 9781601980427 and ISBN 1601980426.