Anmerkungen:
In: Forthcoming in 173 Journal of Institutional and Theoretical Economics (JITE), 173(1) (2017)
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 2, 2016 erstellt
Beschreibung:
Schweizer (2017) provides a powerful and general way of using compensation payments to induce efficient actions. Its application to takings under fiscal illusion, however, is problematic. A better model would assume that the government decides to take property by considering effects on the median voter. Under that assumption, payments based on the market value of land, assuming non-excessive investment, induce efficient action by both landowners and the government