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Property Law x Urban, Rural, and Regional Economics x clear all

A Bargaining Model of Holdouts and Takings

Thomas J. Miceli and Kathleen Segerson.

in American Law and Economics Review

January 2007; p ublished online June 2007 .

Journal Article. Subjects: Game Theory and Bargaining Theory; Property Law; Urban, Rural, and Regional Economics; Regional Government Analysis. 4870 words.

The holdout problem is commonly cited as the justification for eminent domain, but the nature of the problem is not well understood. This article models the holdout problem in a bargaining...

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Land Assembly and the Holdout Problem Under Sequential Bargaining

Thomas J. Miceli and Kathleen Segerson.

in American Law and Economics Review

December 2012; p ublished online November 2012 .

Journal Article. Subjects: Property Law; Urban, Rural, and Regional Economics; Market Structure, Firm Strategy, and Market Performance; Market Structure and Pricing. 5545 words.

Although the holdout problem is an established part of legal and economic lore, the exact source of the problem is not well understood. It is usually attributed to high transaction costs or...

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Recourse and Residential Mortgage Default: Evidence from US States

Andra C. Ghent and Marianna Kudlyak.

in The Review of Financial Studies

September 2011; p ublished online June 2011 .

Journal Article. Subjects: Money and Interest Rates; Banking; Financial Regulation; Property Law; Household Analysis. 22052 words.

We quantify the effect of recourse on default and find that recourse affects default by lowering the borrower's sensitivity to negative equity. At the mean value of the default option for...

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