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Effects of Socio-Institutional and Emotional Factors on Japanese Farmland Rental Transactions

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  • Kunimitsu, Yoji

Abstract

Farmland reallocation between farmers through rental transactions is critical for improving Japanese rice productivity. This study examined effects of socio-institutional and emotional factors as well as economic factors on rental transactions. A stochastic choice model was applied to contingent valuation data by considering regional heteroscedasticity. Empirical results showed (1) existence of economic inefficiencies, 3% loss of economic surplus due to socio-institutional restriction, which is probably reflected in transaction costs; (2) a 15% reduction in surplus due to emotional reluctance of farmers; and (3) strong influences of rice price, wages, and geographical location on the rental rate and agreement level.

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  • Kunimitsu, Yoji, 2006. "Effects of Socio-Institutional and Emotional Factors on Japanese Farmland Rental Transactions," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 38(1), pages 33-46, April.
    • Handle: RePEc:cup:jagaec:v:38:y:2006:i:01:p:33-46_02
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    Cited by:

    1. Hironori Yagi & Tsuneo Hayashi, 2021. "Machinery utilization and management organization in Japanese rice farms: Comparison of single‐family, multifamily, and community farms," Agribusiness, John Wiley & Sons, Ltd., vol. 37(2), pages 393-408, April.

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