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Regulatory Takings

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Author Info

  • Thomas J. Miceli

    (University of Connecticut)

  • Kathleen Segerson

    (University of Connecticut)

Abstract

A regulatory taking occurs when a government 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. It also assesses the consequences of various compensation rules on the efficiency of land use decisions and government policymaking.

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File URL: http://web2.uconn.edu/economics/working/2011-16.pdf
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Bibliographic Info

Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 2011-16.

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Length: 43 pages
Date of creation: Jul 2011
Date of revision:
Handle: RePEc:uct:uconnp:2011-16

Contact details of provider:
Postal: University of Connecticut 341 Mansfield Road, Unit 1063 Storrs, CT 06269-1063
Phone: (860) 486-4889
Fax: (860) 486-4463
Web page: http://www.econ.uconn.edu/
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Related research

Keywords: Compensation; eminent domain; regulation; takings;

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References

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  1. Donald Wittman, 1984. "Liability for Harm or Restitution for Benefit?," The Journal of Legal Studies, University of Chicago Press, vol. 13(1), pages 57-80, January.
  2. Miceli,Thomas J., 2011. "The Economic Theory of Eminent Domain," Cambridge Books, Cambridge University Press, number 9781107005259.
  3. Cannaday Roger E., 1994. "Condominium Covenants: Cats, Yes; Dogs, No," Journal of Urban Economics, Elsevier, vol. 35(1), pages 71-82, January.
  4. Hughes, William T, Jr & Turnbull, Geoffrey K, 1996. "Restrictive Land Covenants," The Journal of Real Estate Finance and Economics, Springer, vol. 12(1), pages 9-21, January.
  5. Dean Lueck & Thomas J. Miceli, 2004. "Property Law," Working papers 2004-04, University of Connecticut, Department of Economics.
  6. T. Nicolaus Tideman & Florenz Plassmann, 2005. "Fair and Efficient Compensation for Taking Property under Uncertainty," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 7(3), pages 471-495, 08.
  7. Blume, Lawrence & Rubinfeld, Daniel L & Shapiro, Perry, 1984. "The Taking of Land: When Should Compensation Be Paid?," The Quarterly Journal of Economics, MIT Press, vol. 99(1), pages 71-92, February.
  8. Innes, Robert, 1997. "Takings, Compensation, and Equal Treatment for Owners of Developed and Undeveloped Property," Journal of Law and Economics, University of Chicago Press, vol. 40(2), pages 403-32, October.
  9. Ghosh, Shubha, 1997. "Takings, the exit option and just compensation," International Review of Law and Economics, Elsevier, vol. 17(2), pages 157-176, June.
  10. Lueck, Dean & Michael, Jeffrey A, 2003. "Preemptive Habitat Destruction under the Endangered Species Act," Journal of Law and Economics, University of Chicago Press, vol. 46(1), pages 27-60, April.
  11. Nosal, Ed, 2001. "The taking of land: market value compensation should be paid," Journal of Public Economics, Elsevier, vol. 82(3), pages 431-443, December.
  12. Geoffrey K. Turnbull, 2002. "Land Development under the Threat of Taking," Southern Economic Journal, Southern Economic Association, vol. 69(2), pages 290-308, October.
  13. Schall, Lawrence D, 1976. "Urban Renewal Policy and Economic Efficiency," American Economic Review, American Economic Association, vol. 66(4), pages 612-28, September.
  14. Miceli, Thomas J., 2008. "Public goods, taxes, and takings," International Review of Law and Economics, Elsevier, vol. 28(4), pages 287-293, December.
  15. Shavell, Steven, 1979. "On Moral Hazard and Insurance," The Quarterly Journal of Economics, MIT Press, vol. 93(4), pages 541-62, November.
  16. Fischel, William A. & Shapiro, Perry, 1989. "A constitutional choice model of compensation for takings," International Review of Law and Economics, Elsevier, vol. 9(2), pages 115-128, December.
  17. Riddiough, Timothy J., 1997. "The Economic Consequences of Regulatory Taking Risk on Land Value and Development Activity," Journal of Urban Economics, Elsevier, vol. 41(1), pages 56-77, January.
  18. Stiglitz, Joseph E, 1974. "Incentives and Risk Sharing in Sharecropping," Review of Economic Studies, Wiley Blackwell, vol. 41(2), pages 219-55, April.
  19. Robert Innes & Stephen Polasky & John Tschirhart, 1998. "Takings, Compensation and Endangered Species Protection on Private Lands," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 35-52, Summer.
  20. Truesdell, Marie K. & Bergstrom, John C. & Dorfman, Jeffrey H., 2006. "Regulatory Takings and the Diminution of Value: An Empirical Analysis of Takings and Givings," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(03), December.
  21. Fischel, William A & Shapiro, Perry, 1988. "Takings, Insurance, and Michelman: Comments on Economic Interpretations of "Just Compensation" Law," The Journal of Legal Studies, University of Chicago Press, vol. 17(2), pages 269-93, June.
  22. Polasky, Stephen & Doremus, Holly, 1998. "When the Truth Hurts: Endangered Species Policy on Private Land with Imperfect Information," Journal of Environmental Economics and Management, Elsevier, vol. 35(1), pages 22-47, January.
  23. Stephen Polasky & Holly Doremus & Bruce Rettig, 1997. "Endangered Species Conservation On Private Land," Contemporary Economic Policy, Western Economic Association International, vol. 15(4), pages 66-76, October.
  24. Niemann, Paul & Shapiro, Perry, 2008. "Efficiency and fairness: Compensation for takings," International Review of Law and Economics, Elsevier, vol. 28(3), pages 157-165, September.
  25. Ron Giammarino, 2005. "Loggers versus Campers: Compensation for the Taking of Property Rights," Journal of Law, Economics and Organization, Oxford University Press, vol. 21(1), pages 136-152, April.
  26. Robert Innes, 2000. "The Economics of Takings and Compensation When Land and Its Public Use Value Are in Private Hands," Land Economics, University of Wisconsin Press, vol. 76(2), pages 195-212.
  27. Kaplow, Louis, 1992. " Government Relief for Risk Associated with Government Action," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(4), pages 525-41.
  28. Jon H. Goldstein & William D. Watson, 1997. "Property Rights, Regulatory Taking, And Compensation: Implications For Environmental Protection," Contemporary Economic Policy, Western Economic Association International, vol. 15(4), pages 32-42, October.
  29. Miceli, Thomas J & Segerson, Kathleen, 1994. "Regulatory Takings: When Should Compensation Be Paid?," The Journal of Legal Studies, University of Chicago Press, vol. 23(2), pages 749-76, June.
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Citations

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Cited by:
  1. Louis Kaplow, 2003. "Transition Policy: A Conceptual Framework," NBER Working Papers 9596, National Bureau of Economic Research, Inc.
  2. Thomas J. Miceli, 2011. "The Use of Economics for Understanding Law: An Economist's View of the Cathedral," Working papers 2011-25, University of Connecticut, Department of Economics.
  3. Ed Balsdon, 2007. "Property Value Capitalization And Municipal Open Space Referenda," Working Papers 0019, San Diego State University, Department of Economics.
  4. Lange, Andreas & Liu, Xiangping, 2013. "Land Development Restrictions and Preemptive Action- On the benefits of differentiated regulation," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 151283, Agricultural and Applied Economics Association.
  5. Robert M. Hunt & Tim VandenBerg, 1998. "Discouraging Federal actions that reduce the value of private property: evaluating procedural and financial approaches," Working Papers 98-24, Federal Reserve Bank of Philadelphia.

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