Bargaining and market power in a GIS-based hedonic pricing model of the agricultural land market

Geerte Cotteleer and Cornelis Gardebroek

No 21255, 2006 Annual meeting, July 23-26, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Agricultural land markets differ greatly from the textbook-case of perfect competition. This is why standard hedonic pricing techniques should be revised before applying this technique to this market. The objective of this paper is to determine (a) the deviation from the competitive market price of agricultural land in the Netherlands due to market power and the existence of an excess surplus and (b) the effect of bargaining power on the division of excess surplus between the eventual seller and the buyer in the market for agricultural land.

Keywords: Land; Economics/Use (search for similar items in EconPapers)
Pages: 26
Date: 2006
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea06:21255

DOI: 10.22004/ag.econ.21255

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