Private Property and Takings Compensation

Theoretical Framework and Empirical Analysis

Yun-chien Chang, Associate Research Professor and Deputy Director, Center for Empirical Legal Studies, Institutum Iurisprudentiae, Academia Sinica, Taiwan

This innovative volume offers a thorough breakdown of the issues surrounding takings compensation – payments made as reimbursement for government takeover of private property. Using examples from New York City and Taiwan, Yun-chien Chang discusses the advantages and disadvantages of different methods of compensation and offers insightful suggestions for future implementation.

‘Drawing upon both prior research and cutting-edge data, Private Property and Takings Compensation offers an evaluation of assorted compensation strategies that should prove invaluable particularly to government policymakers and litigators.’
– The Midwest Book Review

‘Chang reviews the various standards and concludes that the proper measure, which is most invulnerable to political manipulation, calls for compensation at the fair market level of the property at its highest and best use, not just its current value.’
– From the foreword by Richard A. Epstein, New York University, US

‘This thought-provoking and skillfully executed book offers fresh theoretical and empirical insights into questions of eminent domain compensation. Chang’s analysis of this interesting and important area is illuminating and sure to spark further dialogue.’
– Lee Anne Fennell, University of Chicago Law School, US

‘Chang’s book represents the state of the art in the legal, economic, and political analysis of compensation for physical takings. Writing with analytical skill and clarity, Chang makes a strong case for fair market value compensation with financial bonuses to properly incentivize assessors.’
– Daniel L. Rubinfeld, University of California, Berkeley, US