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Regulatory Takings and the Diminution of Value: An Empirical Analysis of Takings and Givings AgEcon
Truesdell, Marie K.; Bergstrom, John C.; Dorfman, Jeffrey H..
A hedonic model is used to measure the change in value of residential lots in Rockport, Texas, resulting from Section 404 of the U.S. Clean Water Act. Results show that average lot values initially decreased, went though a six-year adjustment period, and then stabilized on a higher price path resulting in a positive net effect on average lot values throughout the Rockport area (with the exception of a particular subdivision). The results indicate that Section 404 generated both regulatory "takings" and "givings," suggesting that both effects should be considered when assessing the benefits and costs of regulatory events and compensation claims.
Tipo: Journal Article Palavras-chave: Clean Water Act Section 404; Hedonic price method; Interrupted time series; Regulatory takings and givings; Wetlands; Agricultural and Food Policy; C51; D61; R11; R21; Q15.
Ano: 2006 URL: http://purl.umn.edu/43791
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The Value of Water Rights in Agricultural Properties in the Phoenix Active Management Area AgEcon
Yoo, James; Perrings, Charles; Kinzig, Ann; Abbott, Joshua K.; Simonit, Silvio; Connors, John P.; Maliszewski, Paul J..
This paper estimates the value of water rights in the Phoenix Active Management Area (AMA), Arizona. Within AMAs groundwater rights cannot be transferred separately from the agricultural land to which they apply. As a result there is no separate market for ground water rights. The lack of a market creates two problems: there is no direct signal of the scarcity of water and no mechanism for reallocating water from low-to-high value uses. Water can only be reallocated by changing land use. With the growth of metropolitan Phoenix the value of water committed to residential, commercial or industrial use has increased rapidly relative to the value of water committed to agriculture. This has led to the reallocation of land from agriculture to urban uses. To...
Tipo: Presentation Palavras-chave: Water rights; Hedonic price method; Urbanization; Farmland prices; Elasticity; Marginal willingness to pay; Environmental Economics and Policy; Land Economics/Use.
Ano: 2012 URL: http://purl.umn.edu/124095
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