- Series Information
- List of Contributors
- Introduction: Land as an Integrating Theme in Economics
- Integrating Regional Economic Development Analysis and Land Use Economics
- Technology Adoption and Land Use
- Are Large Metropolitan Areas Still Viable?
- Modeling the Land Use Change with Biofuels
- Modeling the Determinants of Farmland Values in the United States
- Land Use and Sustainable Economic Development: Developing World
- The Economics of Wildlife Conservation
- Connecting Ecosystem Services to Land Use: Implications for Valuation and Policy
- Land Use and Climate Change
- Land Use, Climate Change, and Ecosystem Services
- Fire: An Agent and a Consequence of Land Use Change
- Land Use and Municipal Profiles
- An Assessment of Empirical Methods for Modeling Land Use
- Equilibrium Sorting Models of Land Use and Residential Choice
- Landscape Simulations with Econometric-Based Land Use Models
- An Economic Perspective on Agent-Based Models of Land Use and Land Cover Change
- Spatial Econometric Modeling of Land Use Change
- Using Quasi-Experimental Methods to Evaluate Land Policies: Application to Maryland’s Priority Funding Legislation
- Applying Experiments to Land Economics: Public Information and Auction Efficiency in Ecosystem Service Markets
- Open Space Preservation: Direct Controls and Fiscal Incentives
- Land Conservation in the United States
- European Agri-Environmental Policy: The Conservation and Re-Creation of Cultural Landscapes
- Agri-Environmental Policies: A Comparison of US and EU Experiences
- Stigmatized Sites and Urban Brownfield Redevelopment
- Regulatory Takings
- Eminent Domain and the Land Assembly Problem
- Future Research Directions in Land Economics
- Subject Index
Abstract and Keywords
The regulatory takings issue potentially arises whenever a government regulation restricts the use of private property without actually seizing title to it (as would occur under eminent domain). A regulatory taking occurs when the regulation reduces the value of private property to such a degree that the owner is entitled to compensation under the Fifth Amendment Takings Clause. This chapter reviews legal and economic theories aimed at determining when a regulation crosses the compensation threshold. We do this using a simple model of takings or land use regulation that provides a unifying framework for discussing the economics of regulatory takings. We use the model to illustrate both basic economic principles related to compensation and a number of extensions that have been considered in the literature. The main focus is on assessing the consequences of various compensation rules on the efficiency of land use decisions and government policy making.
Thomas J. Miceli is Professor in the Department of Economics at University of Connecticut.
Kathleen Segerson is Philip E. Austin Professor in the Department of Economics at University of Connecticut.
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