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Information Rigidities and Farmland Value Expectations

Author

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  • Chad Fiechter
  • Todd Kuethe
  • Wendong Zhang

Abstract

This article examines the degree to which information inefficiency influences farmland price expectations. Using expectations and observed values of Iowa farmland from 1964 to 2021 and the empirical test of Coibion and Gorodnichenko (2015), we estimate the degree to which information rigidities hold explanatory power for information inefficiency. Our results suggest that Iowa farmland professionals infrequently update their information set or underweight new information. This article provides a necessary step toward a better understanding of the role of information in farmland market efficiency, furthering the discussion of development of additional public information in farmland markets.

Suggested Citation

  • Chad Fiechter & Todd Kuethe & Wendong Zhang, 2025. "Information Rigidities and Farmland Value Expectations," Land Economics, University of Wisconsin Press, vol. 101(2), pages 218-229.
    • Handle: RePEc:uwp:landec:v101:y:2025:i:2:p:218-229
    Note: DOI: https://doi.org/10.3368/le.101.2.102623-0111R1
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    File URL: http://le.uwpress.org/cgi/reprint/101/2/218
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    More about this item

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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