摘要：We study incentive structures of public developers and land owners in the process of public expropriations using a sequential game model.In the model,we show that there is an incentive for the public developer to give more compensation than just compensation that are defined by law.Also the model shows that there is an incentive for the land owners to revolt strategically against the public expropriation.Then an ideal authority delegation model is introduced to resolve the problems,where an independent appraiser determines the compensation for the expropriation.In the real world,improving the independence of appraisal process is critical to make the system closer to the ideal authority delegation model.So this paper concludes by making a few policy suggestions to improve the current appraisal system.
