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Combining hedonic and negative exponential techniques to estimate the market value of land

Author

Listed:
  • Leah J. Tsoodle
  • Allen M. Featherstone
  • Bill B. Golden

Abstract

Given the importance of land valuation to various stakeholders, the objective of this research is to estimate a theoretically sound model to model the market value of land in Kansas, accounting for urban influence and site specific characteristics. The model is estimated using data on all sales of agricultural land in Kansas between 1996 and 2004. Results indicate that the upward, urban pressure on price is greater for Kansas City relative to Wichita. Kansas City had a much slower rate of decay than either Wichita or cities with a population of more than 10,000.

Suggested Citation

  • Leah J. Tsoodle & Allen M. Featherstone & Bill B. Golden, 2007. "Combining hedonic and negative exponential techniques to estimate the market value of land," Agricultural Finance Review, Emerald Group Publishing, vol. 67(2), pages 225-239, November.
  • Handle: RePEc:eme:afrpps:v:67:y:2007:i:2:p:225-239
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    References listed on IDEAS

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    1. Melichar, Emanuel, 1984. "Farm Wealth Origin: Impact and Implications for Public Policy," Research Bulletins 184145, Cornell University, Department of Applied Economics and Management.
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    Cited by:

    1. Benoît A. Delbecq & Todd H. Kuethe & Allison M. Borchers, 2014. "Identifying the Extent of the Urban Fringe and Its Impact on Agricultural Land Values," Land Economics, University of Wisconsin Press, vol. 90(4), pages 587-600.
    2. Wendong Zhang & Cynthia J. Nickerson, 2015. "Housing Market Bust and Farmland Values: Identifying the Changing Influence of Proximity to Urban Centers," Land Economics, University of Wisconsin Press, vol. 91(4), pages 605-626.

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