In Search of Robin Hood: Suggested Legislative Responses to Kelo

Abstract:     
This article is a short essay that uses an economic analysis of the need for and potential abuses of eminent domain used to transfer property from one private entity to another. It adds to the current literature by suggesting that states can establish mechanisms for evaluating and compensating current landowners for the idiosyncratic value they place on their property, and can establish administrative procedures and judicial review essentially to require local governments to auction the opportunity to obtain the property to the private entity that will provide the greatest benefit to the jurisdiction.

Number of Pages in PDF File: 21

Keywords: Takings, Eminent Domain, Just Compensation, Kelo

working papers series