Land Acquisition and Compensation Policy for Development Activity

Dinda, Soumyananda (2015): Land Acquisition and Compensation Policy for Development Activity. Published in: Journal of Land and Rural Studies , Vol. 1, No. 4 (4 January 2016): pp. 111-118.

Abstract

Development policy focuses on creation of economic opportunities which increase the demand for transferring land from primary to secondary or tertiary activities. Market mechanism is sufficient argument of distributive justice for land acquisition for development activities, but it ignores income security. Landowners are heterogeneous in terms of knowledge, skills, risk preferences, attitudes and perception of future development benefits. The role of complementarities of land with farming skills are non-transferable that incorporate their concern for financial security and time preference. These concerns exhibited considerable diversity with corresponding preferences over alternative forms of non-cash compensation. Hence, alternative compensation packages ought to be offered to cater to this diversity.

• Item Type: MPRA Paper
• Language: English
• Keywords: Land acquisition, compensation policy, income security, risk preference, valuation, market price
• Subjects: H - Public Economics > H7 - State and Local Government ; Intergovernmental Relations; K - Law and Economics > K0 - General; K - Law and Economics > K1 - Basic Areas of Law; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q15 - Land Ownership and Tenure ; Land Reform ; Land Use ; Irrigation ; Agriculture and Environment; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z18 - Public Policy

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