| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 962025 | Journal of Housing Economics | 2010 | 12 Pages |
Abstract
⺠We examine the option value of land under the threat of eminent domain. ⺠Compensation using pre-threat market value, as in the US, speeds development. ⺠Pre-threat market value compensation reduces efficiency. ⺠Compensation using higher post-threat option value slows development. ⺠Post-threat option value compensation increases efficiency.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Geoffrey K. Turnbull,