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Farm Land Prices: Explainable or Illogical?

Published online by Cambridge University Press:  28 April 2015

Melvin G. Blase  and
Clyde Hesemann
Melvin G. Blase
Affiliation:
University of Missouri
Clyde Hesemann
Affiliation:
University of Missouri
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Extract

Of all markets, the land market has been thought to be one of the most difficult to explain. Techniques for predicting land prices leave much to be desired. Nevertheless, the importance of this market continues to grow as fixed costs of commercial farm firms escalate, due to farm expansion and other factors.

Conventional techniques for building models to explain farm land prices have not been as useful as when similar statistical procedures have been used elsewhere. Data problems have been conspicuous. The heterogeneity of many populations has created difficulties. Clearly, additional refinement of models is needed.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 5 , Issue 1 , July 1973 , pp. 265 - 272
Copyright
Copyright © Southern Agricultural Economics Association 1973

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References

[1]Gilliam, Henry C., “An Analysis of the Valuation of Agricultural Land in Cotton Producing Areas of the South Carolina Coastal Plain,” unpublished Ph.D. thesis, Clemson, 1964.Google Scholar
[2]Reynolds, John E. and Timmons, J. F., “Factors Affecting Farm Land Values in the United States,” Research Bulletin 566, Iowa City: Iowa State University, Feb. 1969.Google Scholar
[3]Rossmiller, George E., “Farm Real Estate Patterns in the U.S. 1930-1962,” Michigan State University Agricultural Economics Report No. 31, East Lansing, Nov. 1965.Google Scholar
[4]Tweeten, Luther and Martin, James, “A Methodology for Predicting U.S. Farm Real Estate Price Variation,” Journal of Farm Economics, 48:378–393, 1966.CrossRefGoogle Scholar
[5]Van Vuuren, Willen, “Agricultural Land Prices and Returns in an Advanced Urban and Industrial Economy,” unpublished Ph.D. thesis, University of California-Berkeley.Google Scholar