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@article{ART002177440},
author={KIM, IL-JOONG and 이호준},
title={Property Right and Regulation: Focusing on Greenbelt Regulation},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2016},
volume={26},
number={4},
pages={109-129}

TY - JOUR
AU - KIM, IL-JOONG
AU - 이호준
TI - Property Right and Regulation: Focusing on Greenbelt Regulation
JO - Korea Real Estate Review
PY - 2016
VL - 26
IS - 4
PB - korea real estate research institute
SP - 109
EP - 129
SN - 2092-5395
AB - This paper tries to answer the question of whether a regulation requires compensation to the regulated. We examined the weakness of previous economic models on this issue and suggested a new formula and scrutiny process to determine whether to compensate or not by synthesizing the theories of Michelman(1967) and Epstein(1985). The suggested formula with the six-step scrutiny utilizes an extended concept of efficiency which encompasses the conventional norms of fairness. We think the formula is more useful and workable in practice, specially at courts than the previous models. We finally tested the workability of the formula with the case study on the Green Belt regulation of Korea, and we showed that the strongest land regulation requires compensation to the regulated.
KW - regulatory takings;compensation;six-step scrutiny
DO -
UR -
ER -

KIM, IL-JOONG and 이호준. (2016). Property Right and Regulation: Focusing on Greenbelt Regulation. Korea Real Estate Review, 26(4), 109-129.

KIM, IL-JOONG and 이호준. 2016, "Property Right and Regulation: Focusing on Greenbelt Regulation", Korea Real Estate Review, vol.26, no.4 pp.109-129.

KIM, IL-JOONG, 이호준 "Property Right and Regulation: Focusing on Greenbelt Regulation" Korea Real Estate Review 26.4 pp.109-129 (2016) : 109.

KIM, IL-JOONG, 이호준. Property Right and Regulation: Focusing on Greenbelt Regulation. 2016; 26(4), 109-129.

KIM, IL-JOONG and 이호준. "Property Right and Regulation: Focusing on Greenbelt Regulation" Korea Real Estate Review 26, no.4 (2016) : 109-129.

KIM, IL-JOONG; 이호준. Property Right and Regulation: Focusing on Greenbelt Regulation. Korea Real Estate Review, 26(4), 109-129.

KIM, IL-JOONG; 이호준. Property Right and Regulation: Focusing on Greenbelt Regulation. Korea Real Estate Review. 2016; 26(4) 109-129.

KIM, IL-JOONG, 이호준. Property Right and Regulation: Focusing on Greenbelt Regulation. 2016; 26(4), 109-129.

KIM, IL-JOONG and 이호준. "Property Right and Regulation: Focusing on Greenbelt Regulation" Korea Real Estate Review 26, no.4 (2016) : 109-129.