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Factors Influencing Kansas Agricultural Farm Land Values

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

Land transactions typically involve a substantial investment of time and money for parties involved in the sale. Because of the size of the investment and infrequency of purchases/sales, significant personal interaction between buyer and seller often results. In this study, farmland sales in 104 of 105 Kansas counties from 1986–2000 were examined to quantify the influence of personal relationships and changes over time. Transactions between related parties resulted in a 43% discount on the per acre sales price. Results indicated that social capital effects have increased over time, with the discount on sales between related parties growing 2% per year.

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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 82 (2006)
Issue (Month): 1 ()
Pages: 124-139

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Handle: RePEc:uwp:landec:v:82:y:2006:i:1:p:124-139
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  1. Gregory M. Perry & Lindon J. Robison, 2001. "Evaluating the Influence of Personal Relationships on Land Sale Prices: A Case Study in Oregon," Land Economics, University of Wisconsin Press, vol. 77(3), pages 385-398.
  2. C. Arden Pope III & H. L. Goodwin, 1984. "Impacts of Consumptive Demand on Rural Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 750-754.
  3. William A. Brock & Steven N. Durlauf, 1995. "Discrete Choice with Social Interactions I: Theory," Working Papers 95-10-084, Santa Fe Institute.
  4. Robinson, Lindon J. & Siles, Marcelo E., 1999. "Social capital and household income distributions in the United States: 1980, 1990," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(1), pages 43-93.
  5. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
  6. Nivens, Heather D. & Kastens, Terry L. & Dhuyvetter, Kevin C. & Featherstone, Allen M., 2002. "Using Satellite Imagery In Predicting Kansas Farmland Values," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 27(02), December.
  7. John Faux & Gregory M. Perry, 1999. "Estimating Irrigation Water Value Using Hedonic Price Analysis: A Case Study in Malheur County, Oregon," Land Economics, University of Wisconsin Press, vol. 75(3), pages 440-452.
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