Farm real estate pricing under risk: an empirical investigation

Farm real estate pricing under risk: an empirical investigation

Extract: The purpose of this paper is to explore farm real estate price determination in the context of capital market theory to determine the relationship between the farm real estate market and the market for common stock. The approach should also demonstrate the importance of risk in explaining f...

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Veröffentlicht in:Southern economic journal 1982-07, Vol.49 (1), p.77-87
Hauptverfasser: White, F.C, Ziemer, R.F
Format: Artikel
Sprache:eng
Schlagworte:
Agricultural economics
AGRICULTURE (INCLUDING HUNTING AND GATHERING)
Capital markets
Covariance
Economic models
Economic theory
Farms
Financial investments
Financial portfolios
Investment return rates
Investment risk
Investors
Market prices
Prices
Pricing
Real estate
Real estate markets
Risk
State court decisions
Statistical variance
TECHNOLOGICAL DEVELOPMENT
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Zusammenfassung:Extract: The purpose of this paper is to explore farm real estate price determination in the context of capital market theory to determine the relationship between the farm real estate market and the market for common stock. The approach should also demonstrate the importance of risk in explaining farm real estate prices. We must address two basic issues, namely, (1) what is the appropriate measure of an asset's risk?, and (2) what is the relationship in equilibrium between this measure of risk and (a) expected returns and (b) asset prices?
ISSN:0038-4038
2325-8012
DOI:10.2307/1058543