Fairness and partial coercion in land assembly

Rakesh Chaturvedi

Games and Economic Behavior, 2020, vol. 120, issue C, 325-335

Abstract: A holdout problem arises in a land assembly environment in which one buyer is interested in a large landmass characterized by fragmented ownership among many landowners. A simple holdout-resolving mechanism is obtained that asymptotically (as the number of landowners increase) solves a mechanism design problem with two novel criteria. One, a partial coercion constraint that respects property rights only in an ‘aggregate’ sense; and two, a fairness constraint that requires the terms of trade (per unit area) to be the same for every landowner. The mechanism is budget-balanced, semi-anonymous, weakly strategy-proof and non-coercive for the buyer while also being strategy-proof in the large for landowners.

Keywords: Land assembly; Mechanism design; Property rights; Eminent domain (search for similar items in EconPapers)
JEL-codes: D47 D82 H13 P48 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825620300129
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:120:y:2020:i:c:p:325-335

DOI: 10.1016/j.geb.2020.01.011

Access Statistics for this article

Games and Economic Behavior is currently edited by E. Kalai

More articles in Games and Economic Behavior from Elsevier
Bibliographic data for series maintained by Catherine Liu ().