Private Property, Public Use, and Just Compensation: The Economics of Eminent Domain

Thomas Miceli and Kathleen Segerson ()

No 2007-12, Working papers from University of Connecticut, Department of Economics

Abstract: The eminent domain clause of the U.S. Constitution concerns the limits of the government's right to take private property for public use. The economic literature on this issue has examined (1) the proper scope of this power as embodied by the 'public use' requirement, (2) the appropriate definition, and implications, of 'just compensation,' and (3) the impact of eminent domain on land use incentives of owners whose land is subject to a taking risk. This essay reviews this literature and draws implications for our understanding of eminent domain law.

Keywords: Eminent domain; just compensation; land use incentives; public use (search for similar items in EconPapers)
JEL-codes: K11 R52 (search for similar items in EconPapers)
Pages: 71 pages
Date: 2007-05
New Economics Papers: this item is included in nep-law, nep-reg and nep-ure
Note: We acknowledge the comments of participants at the Urban Economics and Real Estate Finance Seminar, Center for Real Estate, MIT, April 2007; and participants at the UConn-Wesleyan Mini Conference, May 2007.
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Persistent link: https://EconPapers.repec.org/RePEc:uct:uconnp:2007-12

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