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Do non-farmers pay more for land than farmers?

Author

Listed:
  • Lorenz Schmidt
  • Martin Odening
  • Matthias Ritter

Abstract

The increase in farmland prices in many parts of the world over the past decade has sparked discussions about whether non-farmers pay higher prices for farmland. This study uses a causal machine learning approach with a rich data set of land transactions in Germany to quantify the potential price premium paid by non-farmers. By applying the causal forest method, we uncover the heterogeneity of price premiums and reveal moderating effects of covariates. We find that the average positive price premium by non-farmers decreases with parcel size and distance to a highway exit.

Suggested Citation

  • Lorenz Schmidt & Martin Odening & Matthias Ritter, 2024. "Do non-farmers pay more for land than farmers?," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 51(4), pages 1094-1128.
    • Handle: RePEc:oup:erevae:v:51:y:2024:i:4:p:1094-1128.
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    File URL: http://hdl.handle.net/10.1093/erae/jbae023
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