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Bargaining and market power in a GIS-based hedonic pricing model of the agricultural land market

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  • Cotteleer, Geerte
  • Gardebroek, Cornelis

Abstract

Agricultural land markets differ greatly from the textbook-case of perfect competition. This is why standard hedonic pricing techniques should be revised before applying this technique to this market. The objective of this paper is to determine (a) the deviation from the competitive market price of agricultural land in the Netherlands due to market power and the existence of an excess surplus and (b) the effect of bargaining power on the division of excess surplus between the eventual seller and the buyer in the market for agricultural land.

Suggested Citation

  • Cotteleer, Geerte & Gardebroek, Cornelis, 2006. "Bargaining and market power in a GIS-based hedonic pricing model of the agricultural land market," 2006 Annual meeting, July 23-26, Long Beach, CA 21255, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea06:21255
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    File URL: http://purl.umn.edu/21255
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    References listed on IDEAS

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    Cited by:

    1. Mauro Iacobini & Gaetano Lisi, 2016. "Prezzi edonici delle caratteristiche abitative e analisi di regressione multipla: suggerimenti pratici per la stima," RIVISTA DI ECONOMIA E STATISTICA DEL TERRITORIO, FrancoAngeli Editore, vol. 2016(2), pages 5-42.
    2. Gaetano Lisi, 2011. "The Hedonic Price Function in a Matching Model of Housing Market," Economics Bulletin, AccessEcon, vol. 31(3), pages 2347-2355.

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    Keywords

    Land Economics/Use;

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