“…Ricardian approach focuses on the estimates of the cost of climate changes analyzing associations between land value and agro-climatic variables using net revenue climate response function under the assumption that that land rent would re ect the long-term net productivity of farmland on the basis of survey or country-level data (Mendelsohn et al, 1994(Mendelsohn et al, , 1996Mendelsohn & Dinar, 1999, 2003Liu et al, 2004;Gbetibouo and Hassan, 2005;Schlenker et al, 2005;Seo et al, 2005;Mano and Nhemachena, 2007;Deressa and Hassan, 2009;Lippert et al, 2009;De Salvo et al, 2013;Closset et al, 2014;Mishra and Sahu, 2014;Van Passel et al, 2017;Trinh, 2018;Sadiq et al, 2019;DePaula, 2020;De Siano et al, 2020;Jawid, 2020;Nicita et al, 2020;Ortiz-Bobea, 2020). The time series/panel data models have become popular in recent years, as more data is available.…”