Combining hedonic and negative exponential techniques to estimate the market value of land

Leah J. Tsoodle, Allen Featherstone () and Bill B. Golden

Agricultural Finance Review, 2007, vol. 67, issue 2, pages 225-239

Abstract: Given the importance of land valuation to various stakeholders, the objective of this research is to estimate a theoretically sound model to model the market value of land in Kansas, accounting for urban influence and site specific characteristics. The model is estimated using data on all sales of agricultural land in Kansas between 1996 and 2004. Results indicate that the upward, urban pressure on price is greater for Kansas City relative to Wichita. Kansas City had a much slower rate of decay than either Wichita or cities with a population of more than 10,000.

Keywords: Hedonic model; Negative exponential function; Urban influence on land values (search for similar items in EconPapers)
Date: 2007

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