Transaction costs and the present value “puzzle” of farmland prices.

The present study introduces a theoretical land pricing model that allows for proportional transaction costs, and a corresponding kernel regression test. The model is tested with farmland returns data for 20 individual states, and also with two aggregate U.S. level series. The constant discount rate...

Descripción completa

Detalles Bibliográficos

Publicado en:	Southern Economic Journal Vol. 68; no. 3; pp. 549 - 566
Autores principales:	De Fontnouvelle, Patrick, Lence, Sergio H.
Formato:	Artículo
Publicado:	Southern Economic Association January 2002
Materias:	Agricultural prices Valuation of farms Present value Mathematical models Rural conditions Iowa United States
Acceso en línea:	Ver este registro en EBSCOhost