One of the great successes of the law and economics movement has been the use of economic models to explain the structure and function of broad areas of law. The original contributions to this volume epitomize that tradition, offering state-of-the-art research on the many facets of economic...

The burden of redevelopment projects, whether or not they ultimately benefit the communities in which they are undertaken, is borne disproportionately by those displaced. Neighborhoods are destroyed and residents are made to leave a home they love, compensated only by its market value. The...

Currently, the legitimate transfer of ownership of an asset occurs either through voluntary means - gift, bequest, sale - or through the use of state power - compulsory acquisition, resumption, eminent domain, court order. In Australia and elsewhere, compulsory acquisition of private property is...

In Shapiro and Pincus (2008), we proposed a method for arriving at just compensation of private owners of urban land, in cases like Kelo v New London, in which government has plans to use eminent domain to `take' private properties, to be assembled into a single parcel for some public purpose....

Land can be inefficiently allocated when attempts to assemble separately-owned pieces of land into large parcels are frustrated by holdout landowners. The existing land-assembly institution of eminent domain can be used neither to gauge efficiency nor to determine how to compensate displaced...

type="main" xml:id="ecpa12068-abs-0001" <p>The “Henry tax review,” Australia's Future Tax System (Commonwealth of Australia, Department of Treasury, [, 2010]), recommended that royalties be abolished and replaced by a resource rent tax. Regarding abolition, AFTS drew on KPMG Econtech ([,...</p>

"For economists, the main test of a microeconomic policy change is its effect on efficiency: gains minus losses, equally weighted. However, it is standard economics that individuals value losses more than gains. Moreover, imposing large, uncompensated and uninsurable policy-induced losses would...

John Quiggin's paper attacks public-choice theory, among other things, for its use of the assumption of "rational egoism." The object of the authors' response is twofold. First, to disting uish egoism from rationality and to indicate that rationality postula tes, when faithfully applied, provide...

The repercussions of the East Asian financial crisis have been the most severe in Indonesia, a country long regarded as one of the developing world's greatest success stories. Although triggered by external factors, the roots of the economic collapse can be traced to a series of policy errors...

This paper presents estimates of the financial returns to the graduate, to the Treasury and to the Australian economy from undergraduate education. In addition, the paper indulges in some speculations about the efficiency of the policy changes.