An Analysis of Land Pricing under Risk

Jean-Paul Chavas () and Bruce Jones

Review of Agricultural Economics, 1993, vol. 15, issue 2, 351-366

Abstract: Relying on a nominal valuation of future returns from land, a model of land pricing under risk is specified and estimated for three Midwestern States. The empirical results provide evidence that risk has a significant and negative influence on land prices. They also indicate that the marginal influence of inflation on land prices has declined over the last 20 years.

Date: 1993
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