Land Acquisition for Industrialization and Compensation of Displaced Farmers. Maitreesh Ghatak Dilip Mookherjee. Introduction.
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- Rise in x → positive marginal return to the tenant’s investment
- Higher investment by Landlord → change in the tenant’s incentive to manipulate the probability of land conversion
= -(1-s)pAf(.) (1-s)pxA
Proposition1:Starting with any locally stable Nash equilibrium, an increase in c induces both tenants’ and landlord’s investments to rise.
- on the tenant’s investment
-on the landlord’s investment
-on the conversion decision
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