Efficient Urban Renewal Without Takings: Two Solutions to the Land Assembly Problem
When urban renewal projects require that smaller parcels be assembled into a single large one, owners who hold out for higher prices may either prevent or significantly delay socially efficient redevelopment. Local governments seeking private redevelopment currently have only the choice between either hoping that private bargaining will lead to efficient land assembly or taking the properties of these owners under eminent domain. We describe two mechanisms that solve the holdout problem and lead to efficiency in land assembly without resorting to governmental takings.
|Date of creation:||2007|
|Contact details of provider:|| Postal: 3016 Pamplin Hall, Blacksburg, VA 24061-0316|
Web page: http://www.econ.vt.edu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Tideman, T Nicolaus & Tullock, Gordon, 1976. "A New and Superior Process for Making Social Choices," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1145-1159, December.
- Groves, Theodore & Loeb, Martin, 1975.
"Incentives and public inputs,"
Journal of Public Economics,
Elsevier, vol. 4(3), pages 211-226, August.
- O'Flaherty, Brendan, 1994. "Land assembly and urban renewal," Regional Science and Urban Economics, Elsevier, vol. 24(3), pages 287-300, June.
- Asami, Yasushi, 1985. "A game-theoretic approach to the division of profits from economic land development," Regional Science and Urban Economics, Elsevier, vol. 18(2), pages 233-246, May.
- Cohen, Lloyd, 1991. "Holdouts and Free Riders," The Journal of Legal Studies, University of Chicago Press, vol. 20(2), pages 351-362, June.
- Menezes, Flavio Marques & Pitchford, Rohan, 2001.
"The land assembly problem revisited,"
Economics Working Papers (Ensaios Economicos da EPGE)
427, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
- Eckart, Wolfgang, 1985. "On the land assembly problem," Journal of Urban Economics, Elsevier, vol. 18(3), pages 364-378, November.
- McFarlane, Alastair, 1999. "Taxes, Fees, and Urban Development," Journal of Urban Economics, Elsevier, vol. 46(3), pages 416-436, November.
- Jan K. Brueckner, 2000. "Urban Sprawl: Diagnosis and Remedies," International Regional Science Review, , vol. 23(2), pages 160-171, April.
- Sanford J. Grossman & Oliver D. Hart, 1980. "Takeover Bids, the Free-Rider Problem, and the Theory of the Corporation," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 42-64, Spring.
- 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.
- Horowitz, John K., 2006. "The Becker-DeGroot-Marschak mechanism is not necessarily incentive compatible, even for non-random goods," Economics Letters, Elsevier, vol. 93(1), pages 6-11, October.
- Thomas J. Miceli & C. F. Sirmans, 2004. "The Holdout Problem and Urban Sprawl," Working papers 2004-38, University of Connecticut, Department of Economics.
- Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
- Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
When requesting a correction, please mention this item's handle: RePEc:vpi:wpaper:e07-8. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Djavad Salehi-Isfahani)
If references are entirely missing, you can add them using this form.