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Farm Land Prices: Explainable or Illogical?

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  • Blase, Melvin G.
  • Hesemann, Clyde

Abstract

Of all markets, the land market has been thought to be one of the most difficult to explain. Techniques for predicting land prices leave much to be desired. Nevertheless, the importance of this market continues to grow as fixed costs of commercial farm firms escalate, due to farm expansion and other factors.Conventional techniques for building models to explain farm land prices have not been as useful as when similar statistical procedures have been used elsewhere. Data problems have been conspicuous. The heterogeneity of many populations has created difficulties. Clearly, additional refinement of models is needed.

Suggested Citation

  • Blase, Melvin G. & Hesemann, Clyde, 1973. "Farm Land Prices: Explainable or Illogical?," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 5(1), pages 265-272, July.
    • Handle: RePEc:cup:jagaec:v:5:y:1973:i:01:p:265-272_01
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    Cited by:

    1. Tim J. Coelli & J. Lloyd‐Smith & D. Morrison & J. Thomas, 1991. "Hedonic Pricing For A Cost Benefit Analysis Of A Public Water Supply Scheme," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 35(1), pages 1-20, April.
    2. Brake, John R. & Melichar, Emanuel, 1977. "Agricultural Finance and Capital Markets," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    3. Johnson, James William, 1985. "Land prices: changes and variability: the effect on Iowa grain farms," ISU General Staff Papers 1985010108000017533, Iowa State University, Department of Economics.
    4. Marti, Carole E. & Dunford, RIchard W., 1982. "The'Role Of Expectations In The Determination Of Vacant Rural Land Prices At The Urban Fringe," 1982 Annual Meeting, August 1-4, Logan, Utah 279171, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. VanHove, David Samuel, 1978. "An analysis of the financial considerations of seller financed land sales and their potential effect upon the selling price of Iowa farmland," ISU General Staff Papers 1978010108000018023, Iowa State University, Department of Economics.
    6. Pam Guiling & B. Wade Brorsen & Damona Doye, 2009. "Effect of Urban Proximity on Agricultural Land Values," Land Economics, University of Wisconsin Press, vol. 85(2), pages 252-264.
    7. Guiling, Pamela & Doye, Damona & Brorsen, B. Wade, 2009. "Why Has the Price of Pasture Increased Relative to the Price of Cropland?," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2009, pages 1-13.
    8. Brake, John R. & Melichar, Emanuel, 1977. "PART VI. Agricultural Finance and Capital Markets," AAEA Monographs, Agricultural and Applied Economics Association, number 337218, january.

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