When providing a good involves assembling several parcels of contiguous land, private individuals may encounter difficulty negotiating the purchase of those parcels.

Question

Quizplus · Accepted Answer

This difficulty arises due to the "holdout" problem, where one or more landowners refuse to sell their parcels at a reasonable price, knowing their land is essential for the project, thus complicating or blocking the assembly of the needed contiguous land.

When Providing a Good Involves Assembling Several Parcels of Contiguous