The formation of offer prices in farmland markets: A hedonic price approach
This study develops a game-theoretic framework to examine the preservation and capitalization effects of government farmland preservation policies. More specifically, emphasis is given to the effects of such policies on the number and type of land buyers, the distribution of offer price, and the mean waiting period. The results suggest that, in the context of the agricultural zoning policy, the final impact on the reservation price and mean waiting period depends on the magnitude of changes in the number and spread of the type of buyers.
|Date of creation:||29 Jun 2011|
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- Tavernier, Edmund M. & Li, Farong & Temel, Tugrul T., 1996. "Search Theory Risk Preference And Farmland Preservation," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 25(1), April.
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- Tavernier, Edmund M. & Li, Farong, 1995. "Effectiveness Of Use-Value Assessment In Preserving Farmland: A Search-Theoretic Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(02), December.
- John C. Harsanyi, 1967. "Games with Incomplete Information Played by "Bayesian" Players, I-III Part I. The Basic Model," Management Science, INFORMS, vol. 14(3), pages 159-182, November.
- Feng Xu & Ron C. Mittelhammer & Paul W. Barkley, 1993. "Measuring the Contributions of Site Characteristics to the Value of Agricultural Land," Land Economics, University of Wisconsin Press, vol. 69(4), pages 356-369.
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- W. Patrick Beaton, 1991. "The Impact of Regional Land-Use Controls on Property Values: The Case of the New Jersey Pinelands," Land Economics, University of Wisconsin Press, vol. 67(2), pages 172-194. Full references (including those not matched with items on IDEAS)
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