Farm Land Prices and Farm Technological Advance

The Economics of Agricultural R&D

“…Partly, this may reflect the fact that findings regarding distributional impacts are comparatively sensitive to aspects of specification that often must be chosen arbitrarily; thus the results are fragile. An example is Cochrane's technology treadmill argument suggesting that, among farmers, only the early adopters of new technology benefit, and even they do so only temporarily (Cochrane 1958, Herdt & Cochrane 1966. As shown in this review, specific conditions must hold for this argument to be true (it requires a relatively inelastic demand and a multiplicative supply shift), and they probably do not hold in most applications.…”

Did the Federal Agriculture Improvement and Reform Act of 1996 Affect Farmland Values?

“…The capitalization of government programs into land prices has also been discussed in the literature [12][13][14][15][16]. Tweeten et al [14] concluded that pressures to increase farm size and the capitalized benefits of farm programs could explain 52% of the variation in land prices.…”

Land prices and private saving: The case of Bangladesh

“…The supply concept that Herdt and Cochrane (1966) use to analyse land prices is an aggregate supply function illustrating the amount of farm land which is offered for sale at different prices. They suggest that the idea that the total area of land is fixed does not give any information on the aggregate supply of land, since a supply function relates price to the quantity of land offered for sale and not to the total quantity of land.…”