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Agriculture Land Price Setting Systems, and Possible Directions for Their Updating

Author

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  • Josef Slaboch

    ( Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 192, 165 00 Prague, Czech Republic)

  • Michal Malý

    ( Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences Prague, Kamýcká 192, 165 00 Prague, Czech Republic)

Abstract

The aim of this article is to assess the effect of the applied land valuation system on the price of land, and as a consequence of the implied links to compare the valuation of soil units in Slovakia and the Czech Republic. In order to fulfil this objective, an econometric approach was chosen in the form of a hedonic price model, whereby the heteroscedastic corrected linear regression model was specifically applied. The estimated model shows a very high explanatory ability, together with a high parametric significance for most fictitious variables (land characteristics), and at the same time also fulfils the theoretical and logical consistency of general assumptions. From the results, it is evident that, in the case of Slovakia, ESEU [evaluated soil ecological unit] valuation is affected primarily by the climatic region and the main soil unit. When comparing the results of the effect of individual input factors on the price of land in the Czech Republic and Slovakia, it can be stated that the results are slightly different in the effect of certain factors. The characteristics of soils located in warm climatic regions with a valuable soil type of chernozem and low slope are significant and positively intensive factors.

Suggested Citation

  • Josef Slaboch & Michal Malý, 2021. "Agriculture Land Price Setting Systems, and Possible Directions for Their Updating," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 69(6), pages 655-664.
    • Handle: RePEc:mup:actaun:2021.058
    DOI: 10.11118/actaun.2021.058
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    References listed on IDEAS

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    1. Schneider, Uwe A. & Havlík, Petr & Schmid, Erwin & Valin, Hugo & Mosnier, Aline & Obersteiner, Michael & Böttcher, Hannes & Skalský, Rastislav & Balkovic, Juraj & Sauer, Timm & Fritz, Steffen, 2011. "Impacts of population growth, economic development, and technical change on global food production and consumption," Agricultural Systems, Elsevier, vol. 104(2), pages 204-215, February.
    2. Schmidtner, Eva & Dabbert, Stephan & Lippert, Christian, 2015. "Do Different Measurements of Soil Quality Influence the Results of a Ricardian Analysis? – A Case Study on the Effects of Climate Change on German Agriculture," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 64(02), June.
    3. Slaboch, Josef & Čechura, Lukáš, 2020. "Land Pricing Model: Price Re-evaluation Due to the Erosion and Climate Change Effects," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 10(3), December.
    4. Slaboch, Josef & Čechura, Lukáš, 2020. "Land Pricing Model: Price Re-evaluation Due to the Erosion and Climate Change Effects," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 12(4), December.
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