Ideally you would want to allow depreciation though, which is a definite phenomenon! (Especially if things are neglected.)
Yeah, there’s some design questions. You’re right, the upside to the corrective bidders is naively nothing if they get called on it: they’re doing valuable corrective cybernetic labour for free.
Maybe a sensible refinement would be for them to be owed a small fee… or roughly equivalently some (temporary) direct share of the resulting increased Harberger tax.
Fair point, if you add that you can’t assess it at less than you paid for it, this problem goes away.
Ideally you would want to allow depreciation though, which is a definite phenomenon! (Especially if things are neglected.)
Yeah, there’s some design questions. You’re right, the upside to the corrective bidders is naively nothing if they get called on it: they’re doing valuable corrective cybernetic labour for free.
Maybe a sensible refinement would be for them to be owed a small fee… or roughly equivalently some (temporary) direct share of the resulting increased Harberger tax.