Unformatted text preview: investment? 4. Assume that the farm operated for decades before the overflights began. Do you believe that there is a regulatory taking requiring compensation of the farmer? Why or why not? 5. Would your answer to #4 change if you were told that the farmer bought her land some time after the Air Force began their practice missions? From an economic perspective, why might we prefer a rule that denied compensation in cases like this? 6. Compensation for takings is similar to the use of a damage remedy when there are nuisances involving private parties. From an economic perspective, do you think that giving the right to the farmer to get an injunction against the government would be more or less efficient than a damage remedy? Explain....
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- Spring '08
- Economics, Farmer, Federal government of the United States, Air Force Base, chicken farm