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AN EMPIRICAL ANALYSIS OF THE LOUISIANA RURAL LAND MARKET AgEcon
Kennedy, Gary A.; Henning, Steven A.; Vandeveer, Lonnie R.; Dai, Ming.
Structural changes in the farm production sector, continued pressure to reform existing agricultural policies, and an increasing demand for nonagricultural real estate emphasize the need for rural land market research. Rural land, with a wide diversity of physical characteristics and use, continues to be a large portion of Louisiana's total land base. Of Louisiana's total 28,493,440 land acres, cropland and pastureland account for 7,811,413 acres or 27 percent (1992 Louisiana Census of Agriculture). If timberland is included (USDA, Forest Service, 1991), rural land accounts for 79 percent of Louisiana's total land acreage. The measurement of economic, locational, and topographic variables hypothesized to influence rural land values is expected to be...
Tipo: Working or Discussion Paper Palavras-chave: Land Economics/Use.
Ano: 1997 URL: http://purl.umn.edu/31682
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MULTIVARIATE PROCEDURES FOR IDENTIFYING RURAL LAND SUBMARKETS AgEcon
Kennedy, Gary A.; Henning, Steven A.; Vandeveer, Lonnie R.; Dai, Ming.
Research has developed empirical models and procedures for analyzing factors which influence rural land markets; however, there have been limited efforts in developing procedures for identifying rural land submarkets. Principal component analysis is used here to detect the presence of multiple rural land submarkets. Cluster analysis is then used as a basis for identifying eight contiguous rural land submarkets in Louisiana. As opposed to single-attribute procedures that have been based largely on subjective judgment, multivariate procedures illustrated in this analysis provide a means for capturing the combined effects of physical and socioeconomic influences in delineating rural land submarkets.
Tipo: Journal Article Palavras-chave: Cluster analysis; Land market analysis; Principal component analysis; Rural land submarkets; Land Economics/Use.
Ano: 1997 URL: http://purl.umn.edu/15066
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