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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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File URL: http://le.uwpress.org/cgi/reprint/82/1/124
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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
Contact details of provider: Web page: http://le.uwpress.org/

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  1. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
  2. 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.
  3. William A. Brock & Steven N. Durlauf, 1995. "Discrete Choice with Social Interactions I: Theory," NBER Working Papers 5291, National Bureau of Economic Research, Inc.
  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. 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.
  6. 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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