| Autor: |
Curtiss, Jarmila, Jelínek, Ladislav, Medonos, Tomáš, Hruška, Martin, Hüttel, Silke |
| Předmět: |
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| Zdroj: |
European Review of Agricultural Economics; Jan2021, Vol. 48 Issue 1, p97-157, 61p |
| Abstrakt: |
This paper analyses farmland price formation under investors' increased demand in the Czech Republic from 2008 to 2014. We adopt a stochastic metafrontier approach to hedonic price modelling and investigate the relative differences in farm and investor pricing. Our results provide evidence of buyer group-specific land valuations, asymmetric price dispersions and their temporal changes. These changes reflect the developments of market microstructures and market-supporting institutions induced by buyer competition. While initially significantly lower due to high market and bargaining power, prices paid by corporate/cooperative farms converged with high-level investor prices over time. Individual and family farms were largely unable to compete at the new price levels. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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