Policy Question on Exam
Posted: Sat May 03, 2014 5:05 pm
So I never really encountered a policy question yet in law school and was wondering how you are supposed to approach it?
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Generally, the key thing you have to remember is that you're looking at things ex ante. How is this rule going to affect future cases? Get that point across, and be sure to actually answer the question (even if you're unsure) rather than dancing around its core.Option one is preferable. Generally, the goal of property law is to put land in the hands of the highest value user. Here, if we apply option two, blah blah blah, blah blah blah, and a tragedy of the commons will occur. By choosing option 1, blah blah will force the landowner to internalize the injury he is inflicting on his neighbor. While such and such case reflects an emphasis on private interests over the collective, the law must provide some base protection for property in order to preserve stability and avoid chilling investment. That is a good option here, because as in case 1, such and such applies, rather than the other such and such. Blah blah blah. Of far more concern is the fact that option two would result in a moral hazard, that would cause blah blah blah and further chill investment and deadweight losses. Because option one will place the land with the highest value user, that is the ideal rule.