Market Power in a GIS-Based Hedonic Price Model of Local Farmland Markets
Buyers of farmland are usually interested in parcels for sale that are close to their own farms. With a limited number of parcels for sale, this may lead to market power in local farmland markets. The objective of this paper is to investigate whether market power affects farmland prices. Hedonic price models are adapted to allow for local market power of either sellers or buyers. A distinction is made between rural and urban farmland markets. The results provide evidence of market power effects in rural farmland markets. However, for farmland in urban areas, market prices are dominated by speculation effects.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John P. Harding & John R. Knight & C.F. Sirmans, 2003. "Estimating Bargaining Effects in Hedonic Models: Evidence from the Housing Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 31(4), pages 601-622, December.
- Yue Jin Shi & Timothy T. Phipps & Dale Colyer, 1997. "Agricultural Land Values under Urbanizing Influences," Land Economics, University of Wisconsin Press, vol. 73(1), pages 90-100.
- Myles Patton & Seamus McErlean, 2003. "Spatial Effects within the Agricultural Land Market in Northern Ireland," Journal of Agricultural Economics, Wiley Blackwell, vol. 54(1), pages 35-54.
- Tamer Isgin & D. Lynn Forster, 2006. "A Hedonic Price Analysis of Farmland Option Premiums Under Urban Influences," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 54(3), pages 327-340, 09.
- Stavins, Robert & Plantinga, Andrew & Lubowski, Ruben, 2002.
"The Effects of Potential Land Development on Agricultural Land Prices,"
dp-02-11-, Resources For the Future.
- Plantinga, Andrew J. & Lubowski, Ruben N. & Stavins, Robert N., 2002. "The effects of potential land development on agricultural land prices," Journal of Urban Economics, Elsevier, vol. 52(3), pages 561-581, November.
- Plantinga, Andrew & Lubowski, Ruben & Stavins, Robert, 2002. "The Effects of Potential Land Development on Agricultural Land Prices," Working Paper Series rwp02-012, Harvard University, John F. Kennedy School of Government.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:84:y:2008:i:4:p:573-592. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.