Farm Income, Population, and Farmland Prices: A Relative Information Approach

Matthew Salois, Charles Moss and Kenneth Erickson

MPRA Paper from University Library of Munich, Germany

Abstract: This paper uses an entropy-based information approach to determine if farmland values are more closely associated with urban pressure or farm income. The basic question is: how much information on changes in farm real estate values is contained in changes in population versus changes in returns to production agriculture? Results suggest population is informative, but changes in farmland values are more strongly associated with changes in the distribution of returns. However, this relationship is not true for every region nor does it hold over time, as for some regions changes in population are more informative. Results have policy implications for both equity and efficiency.

Keywords: entropy; land values; information theory; population growth. (search for similar items in EconPapers)
JEL-codes: C11 C61 Q12 Q24 (search for similar items in EconPapers)
Date: 2010-10-25
New Economics Papers: this item is included in nep-agr
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Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Farm income, population and farmland prices: a relative information approach (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:26848

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