The formation of offer prices in farmland markets: A hedonic price approach

Tugrul Temel ()

MPRA Paper from University Library of Munich, Germany

Abstract: 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.

Keywords: hedonic price; Bayesian approach; farm land valuation; government farm policy. (search for similar items in EconPapers)
JEL-codes: C11 C7 Q28 Q51 (search for similar items in EconPapers)
Date: 2011-06-29
New Economics Papers: this item is included in nep-agr
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:31921

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