Journal or Book Title
American Journal of Agricultural Economics
Oxford University Press
First Page or Article ID Number
Arguments have long persisted that purchasers pay too much for poor land (i.e., less productive, more erosive) relative to the higher quality counterpart. In other words, purchasers are either irrational or poorly in- formed relative to the differences in land productivity between poor and good farmland. Similar arguments have been advanced concerning the willingness-to-pay rent on the part of tenant operators.
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Miranowski, John A. and Hammes, Brian D., "Implicit Prices of Soil Characteristics for Farmland in Iowa" (1984). Economics Publications. 207.