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by epistasis
1175 days ago
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Perhaps landowners have unreasonable negotiating leverage when a small number who have little to gain or lose can stop a project that is worth billions to society as a whole. If you need to get permission of thousands of people, and any single one can hold up the entire endeavor, then the economically rational thing to do is to be the last holdout, as you will get paid a lot more. Everybody loses in that scenario except the holdout. |
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