Farmland Price Determinants
This paper examines determinants of farmland prices in Minnesota. A hedonic price model is used to estimate the implicit value of the land characteristics. Farmland prices are influenced by agricultural production attributes as well as demand factors. The results also suggest that the potential for development of land for higher value non-agricultural activities creates an expectation, that is capitalised into farmland prices.
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American Journal of Agricultural Economics,
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- J. S. Shonkwiler & J. E. Reynolds, 1986. "A Note on the Use of Hedonic Price Models in the Analysis of Land Prices at the Urban Fringe," Land Economics, University of Wisconsin Press, vol. 62(1), pages 58-63.
- J. Stephen Clark & Murray Fulton & John T. Scott, 1993. "The Inconsistency of Land Values, Land Rents, and Capitalization Formulas," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 147-155.
- Lloyd, T A & Rayner, A J & Orme, C D, 1991. "Present-Value Models of Land Prices in England and Wales," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 18(2), pages 141-166. Full references (including those not matched with items on IDEAS)
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