Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/213122
Authors: 
Buchholz, Matthias
Danne, Michael
Mußhoff, Oliver
Year of Publication: 
2020
Series/Report no.: 
FORLand-Working Paper No. 18 (2020)
Abstract: 
Farmland is an essential agricultural production factor that farmers can choose to either buy or rent. In this paper, we apply a discrete choice experiment to analyse German farmers' individual buying and rental decisions for farmland. Our results reveal that farmers have a higher willingness to buy than to rent farmland. Covariates such as farmers' risk attitude affect the decisions in the discrete choice experiment while no effect was observable for individual expectations about future farmland prices. Direct payments considerably raise farmers' willingness to buy and rent farmland. Farmers' decisions deviate substantially from normative predictions from the present value model.
Subjects: 
Agricultural Land Market
Farmland
Rent-or-Buy Decision
Discrete Choice Experiment
Present Value Model
JEL: 
C93
D90
Q10
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc-nd/3.0/de/
Document Type: 
Working Paper

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