征地补偿标准的实物期权分析

The Standard of Compensation for Rural Land Expropriation:A Real Option Analysis

我国的征地制度具有国家垄断的性质,现行的征地补偿费标准缺乏合理性,导致了实际征地中给予农民的补偿费偏低,侵害了农民的合法权益。农民拥有的土地承包权实际上是一个实物期权,从实物期权的定价方式出发,可以建立农地征用补偿费的新标准和新思路。如果采用货币补偿的形式,就应依照期权价格给予农民足额补偿。对征地双方都更有利的是混合补偿的形式,能够在保障农民利益的同时解决他们的生存就业问题。因此只有建立更合理的农地征用补偿费标准和方法,才能提高土地资源的利用效率,推进城市化快速健康发展。

This paper considers the rural land contracted management right that the peasants have received can be treated as a kind of real options. According to the principle of real option pricing, the authors put forward a standard of monetary compensation for expropriation of land and a mixed compensation mode under the tracing method of real option pricing. These ideas will help develop new solutions on the reform of the expropriation of land, which can protect the interest of peasants, increase the efficiency of land use, and promote the process of urbanization.