Clear property rights must be characterized by the bundle of rights allowed to owner of the property-use rights, right to exchange etc.; or by benefit of exclusion- one person’s property right excludes all others in ownership and sharing of benefits arising out of ownership. Keeping this in mind we will attempt to answer two questions- i) What is the basis of eminent domain in terms of property rights and ii) how important are private property rights to the proper implementation of eminent
Clear property rights must be characterized by the bundle of rights allowed to owner of the property-use rights, right to exchange etc.; or by benefit of exclusion- one person’s property right excludes all others in ownership and sharing of benefits arising out of ownership. Keeping this in mind we will attempt to answer two questions- i) What is the basis of eminent domain in terms of property rights and ii) how important are private property rights to the proper implementation of eminent