Abstract

"Imagine you own a house and some land adjacent to where a new supermarket is being built. You and your neighbors are excited about the proximity and convenience the new market will provide. The supermarket, on the other hand, is less excited about the existence of your house because it interferes with its ability to create additional parking spaces. The supermarket may negotiate with you to buy your property; but if you decline to sell, the supermarket will need to work around your property and have fewer parking spaces. It may need to sweeten its offer to make it more attractive to you.

Scenarios like this happen every day, and for the most part, rarely give us pause. After all, the supermarket knew your house was there before it moved into the neighborhood. The need for the supermarket to negotiate with you (or settle for a smaller parking lot) would not have caught it off-guard. Even if you were driving a hard bargain for the land, the supermarket should not have been surprised—after all, it is your home." [..]

Document Type

Article

Publication Date

2022

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