MODELING THE UNITED STATES FARMLAND MARKET: A TEST OF THE RATIONAL EXPECTATIONS HYPOTHESIS
Kevin C. Moore
No 269943, 1987 Annual Meeting, August 2-5, East Lansing, Michigan from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
A demand and supply model of the U.S. farmland market is constructed. Naive, adaptive, and rational expectations are used to represent market participants capital gains expectations. Rational expectations appear invalid in the land market while naive expectations provide good results. Use of supply and demand schedules also appears appropriate.
Keywords: Demand and Price Analysis; Marketing (search for similar items in EconPapers)
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