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The Effect of Risk on the Rental Value of Agricultural Land

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  • Joyce Hall Krause
  • B. Wade Brorsen

Abstract

A theoretical model determining the rental value of agricultural land under risk aversion is developed. Land rent is modeled as a function of expected output price, input price and risk. Cross sectional time series data for the Corn Belt states (1970-1986) are used assuming a corn-soybean rotation. Farm programs are included as contingent claims.
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Suggested Citation

  • Joyce Hall Krause & B. Wade Brorsen, 1995. "The Effect of Risk on the Rental Value of Agricultural Land," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 17(1), pages 71-76.
    • Handle: RePEc:oup:revage:v:17:y:1995:i:1:p:71-76.
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    File URL: http://hdl.handle.net/10.2307/1349656
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    Cited by:

    1. Du Xiaodong & Hennessy David & Edwards William A., 2008. "Does a Rising Biofuels Tide Raise All Boats? A Study of Cash Rent Determinants for Iowa Farmland under Hay and Pasture," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 6(2), pages 1-25, December.
    2. Katchova, Ani L. & Sherrick, Bruce J. & Barry, Peter J., 2002. "The Effects Of Risk On Farmland Values And Returns," 2002 Annual meeting, July 28-31, Long Beach, CA 19660, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Khadka, Tirsana & Fiechter, Chad, 2025. "Corn Price Expectations and Their Influence on Farmland and Financial Sentiment," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO 360673, Agricultural and Applied Economics Association.
    4. Hall, Joyce A. & Brorsen, B. Wade, "undated". "The Policy Implications of Corn and Soybean·Supply Response to Risk," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270502, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Ifft, Jennifer & Cooper, Joseph C. & Kuethe, Todd H., "undated". "The Impact of Risk and Farm Program Design on Cash Rents," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124334, Agricultural and Applied Economics Association.

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