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Chapter 7 - Chapter 7 4:40 AM Chapter 7 Problems 1 The case...

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12/10/07 4:40 AM Chapter 7 Page 1 of 1 http://www.sup.org/economiclaw/Chapter%207%20Problems.htm Chapter 7 Problems 1. The case of Goldblatt v. Town of Hempstead (369 U.S. 590, 1962) involved a takings claim by the operator of a gravel pit who was prohibited by a town ordinance from continuing to excavate from an open pit that had gone below the water table. Discuss how the court would evaluate the compensation question based on (1) the noxious use doctrine; (2) the diminution of value test; (3) the nuisance exception; and (4) the efficient threshold rule. 2. A developer owns a piece of beachfront land that he intends to develop for residential use. The private returns to the developer are as follows: Return if developed $50,000 Return if undeveloped $10,000 Suppose that three nearby residents would sustain damages from beach erosion if the land is developed. Their damages would be as follows: Resident 1: $20,000 Resident 2: $15,000 Resident 3: $10,000 (a) Is it efficient for the land to be developed?
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