Bayesian spatial analysis of US agricultural land values

• Published in: Spatial economic analysis Vol. 20; no. 2; pp. 346 - 361
• Main Authors: Burnett, J. Wesley, Lacombe, Donald J., Wallander, Steven
• Format: Journal Article
• Language: English
• Published: Routledge 03.04.2025
• Subjects: agricultural land markets; Bayesian spatial model; farmland rental rates; spatial model

This study analyses the spatial patterns in agricultural land values using a Bayesian spatial econometrics approach. The model is motivated by land capitalisation theory, which captures the current value of a parcel of farmland as a discounted, future stream of returns associated with its agricultur...