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Regulatory Takings and the Diminution of Value: An Empirical Analysis of Takings and Givings

Author

Listed:
  • Truesdell, Marie K.
  • Bergstrom, John C.
  • Dorfman, Jeffrey H.

Abstract

A hedonic model is used to measure the change in value of residential lots in Rockport, Texas, resulting from Section 404 of the U.S. Clean Water Act. Results show that average lot values initially decreased, went through a six-year adjustment period, and then stabilized on a higher price path resulting in a positive net effect on average lot values throughout the Rockport area (with the exception of a particular subdivision). The results indicate that Section 404 generated both regulatory “takings” and “givings,” suggesting that both effects should be considered when assessing the benefits and costs of regulatory events and compensation claims.

Suggested Citation

  • 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, Cambridge University Press, vol. 38(3), pages 585-595, December.
    • Handle: RePEc:cup:jagaec:v:38:y:2006:i:03:p:585-595_02
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    Cited by:

    1. Thomas J. Miceli & Kathleen Segerson, 2011. "Regulatory Takings," Working papers 2011-16, University of Connecticut, Department of Economics.

    More about this item

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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