Cost of Right-of-Way Acquisition: Recognizing the Impact of Condemnation via a Switching Regression Model

摘要: AbstractThe costs of acquiring parcels by condemnation are usually significantly higher than those property acquired negotiation, suggesting that right-of-way (R/W) acquisition may best be described two different regression equations. This paper develops a switching model cost to simultaneously predict the probability whether parcel will go rather through negotiation and corresponding under these regimes. The error terms selection equation equations follow trivariate normal distribution reflect codependence on unobserved factors (such as land owner’s tenacity or site’s view value). When applied properties across state Texas for transportation probjects between 2008 2011, results this suggest R/W appraisers staff should pay special attention in commercial use involving partial taking with ...