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Land acquisition: Political intervention, voice and fragmentation

  • Prabal Roy Chowdhury

    ()

    (Indian Statistical Institute, New Delhi)

This paper develops a simple dynamic framework of holdout in land acquisition (both with and without political intervention), where holdout arises because of the landowners' inability to manage large sums of money (and consequent lack of inter-temporal consumption smoothing in case of sale). We then use this framework to analyze two issues, political intervention and fragmentation, showing that the results depend on a subtle interaction of voice, collective bargaining and the severity of fragmentation. Political intervention leads to a large party size (and is consequently more likely) in case it leads to voice for both members and non-members, but not otherwise. Moreover, under both these scenarios, politicization may lead to inefficiency. Further, the efficiency implications of fragmentation also depend on the nature of politicization, with fragmentation increasing holdout in the absence of politicization.

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File URL: http://www.isid.ac.in/~pu/dispapers/dp10-05.pdf
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Paper provided by Indian Statistical Institute, New Delhi, India in its series Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers with number 10-05.

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Length: 31 pages
Date of creation: Jul 2010
Date of revision:
Handle: RePEc:ind:isipdp:10-05
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  1. Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
  2. O'Donoghue, Ted & Rabin, Matthew, 1997. "Doing It Now or Later," Department of Economics, Working Paper Series qt7t44m5b0, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  3. Binswanger, Hans P. & Deininger, Klaus & Feder, Gershon, 1993. "Power, distortions, revolt, and reform in agricultural land relations," Policy Research Working Paper Series 1164, The World Bank.
  4. Eckart, Wolfgang, 1985. "On the land assembly problem," Journal of Urban Economics, Elsevier, vol. 18(3), pages 364-378, November.
  5. Prabal Roy Chowdhury & Kunal Sengupta, 2010. "Transparency, Complementarity and Holdout," Monash Economics Working Papers 49-10, Monash University, Department of Economics.
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