Agricultural Land and the Small Parcel Size Premium Puzzle

B Brorsen, Damona Doye () and Kalyn B. Neal

Land Economics, 2015, vol. 91, issue 3, 572-585

Abstract: Per acre prices of agricultural land increase as parcel sizes decrease. The puzzle is why all agricultural land is not sold in small parcels. Small parcels tend to be close to residential areas and close to quality roads. The small parcel premium lessens as parcels are more distant from urban areas. This suggests that much of the small parcel premium is due to parcels being purchased based on nonagricultural use values. Thus, an explanation of the small parcel premium puzzle is that land with low nonagricultural use values may not have a small parcel premium.

JEL-codes: Q15 R14 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (18)

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