Incompatible use of land and efficient use of an area

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Chapter 22 in The Economic Analysis of Civil Law, 2022, pp 538-545 from Edward Elgar Publishing

Abstract: Ideally, the legal system should react to conflicts from incompatible use of land property in such a way that it seeks to identify and enforce the optimal use of the region. By means of differentiated rules it then determines claims for damages and injunctive rights which incentivise all owners to spend optimal damage avoidance costs and an intensity of use which is optimal for the whole area. Existing legal norms often fail to achieve the first best outcome but can reach a reasonable second best solution.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2022
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