Chapter One: A New Analytical Framework
Yun-chien Chang, Private Property and Takings Compensation: Theoretical Framework and Empirical Analysis (January 2013), Edward Elgar
10 Pages Posted: 9 Nov 2013
Date Written: January 28, 2013
This timely book on takings compensation is the first ever to combine theoretical framework with empirical analysis. On the theory front, this book critically review the theories regarding the condemnor’s takings decisions and the condemnees’ investment decisions, and it advances a framework that also systematically analyzes the accuracy and costs of assessing compensation. On the empirical front, this book uses data from New York City between 1990 and 2003 and Taiwan between 1954 and 2009 to examine whether takings compensation awarded under four different regimes approximate the normative standard, finding that they do not.
Keywords: Economic value, fair market value, takings compensation, over-invest, land assembly, assessment costs, assessment accuracy, assessment method, self-assessment
JEL Classification: K11
Suggested Citation: Suggested Citation