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Transfer of Development Rights: An Analysis of a New Land Use Policy Tool
Author(s) -
Barrows Richard L.,
Prenguber Bruce A.
Publication year - 1975
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238872
Subject(s) - compensation (psychology) , development (topology) , unit (ring theory) , distribution (mathematics) , transfer (computing) , business , economics , public economics , environmental economics , computer science , psychology , mathematical analysis , mathematics education , mathematics , parallel computing , psychoanalysis
The issues in establishing and administering a transfer of development rights program are discussed, and an hypothetical program is empirically analyzed. In the case study, administrative assignment of development rights and definition of development unit significantly affected the distribution of program costs. Full compensation to restricted landowners would have required widely fluctuating development right prices. Initial cost burdens varied with type of development as well as within development categories. Timing of development right supply and demand may create problems in the market. Although the TDR concept is promising, many practical difficulties remain.