The opportunity cost of the conservation reserve program on Kansas agricultural land

The opportunity cost of the conservation reserve program on Kansas agricultural land

Master of Science === Department of Agricultural Economics === Mykel Taylor === Because Conservation Reserve Program (CRP) contracts take land out of production for at least ten years, when deciding to enroll a parcel of land, a landowner must weigh the opportunity costs of hindering production flex...

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Bibliographic Details
Main Author: Garr, Dillon Wyatt
Language:en_US
Published: Kansas State University 2016
Subjects:
Hedonic model
Conservation Reserve Program
Land value
Online Access:http://hdl.handle.net/2097/32620
id ndltd-KSU-oai-krex.k-state.edu-2097-32620
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spelling ndltd-KSU-oai-krex.k-state.edu-2097-326202017-03-04T03:51:20Z The opportunity cost of the conservation reserve program on Kansas agricultural land Garr, Dillon Wyatt Hedonic model Conservation Reserve Program Land value Master of Science Department of Agricultural Economics Mykel Taylor Because Conservation Reserve Program (CRP) contracts take land out of production for at least ten years, when deciding to enroll a parcel of land, a landowner must weigh the opportunity costs of hindering production flexibility against a guaranteed constant annual return. This thesis discusses whether having a CRP contract on a parcel of land in any way effects the value of that parcel. This is accomplished through the use of a hedonic model using data from 1998-2014 on Kansas agricultural land transactions. Results show that unlike in previous literature, while the effect of CRP is typically negative, it can become positive depending on the state of market factors at the time of the transaction. 2016-04-22T16:26:11Z 2016-04-22T16:26:11Z 2016 May Thesis http://hdl.handle.net/2097/32620 en_US Kansas State University
collection NDLTD
language en_US
sources NDLTD
topic Hedonic model
Conservation Reserve Program
Land value
spellingShingle Hedonic model
Conservation Reserve Program
Land value
Garr, Dillon Wyatt
The opportunity cost of the conservation reserve program on Kansas agricultural land
description Master of Science === Department of Agricultural Economics === Mykel Taylor === Because Conservation Reserve Program (CRP) contracts take land out of production for at least ten years, when deciding to enroll a parcel of land, a landowner must weigh the opportunity costs of hindering production flexibility against a guaranteed constant annual return. This thesis discusses whether having a CRP contract on a parcel of land in any way effects the value of that parcel. This is accomplished through the use of a hedonic model using data from 1998-2014 on Kansas agricultural land transactions. Results show that unlike in previous literature, while the effect of CRP is typically negative, it can become positive depending on the state of market factors at the time of the transaction.
author Garr, Dillon Wyatt
author_facet Garr, Dillon Wyatt
author_sort Garr, Dillon Wyatt
title The opportunity cost of the conservation reserve program on Kansas agricultural land
title_short The opportunity cost of the conservation reserve program on Kansas agricultural land
title_full The opportunity cost of the conservation reserve program on Kansas agricultural land
title_fullStr The opportunity cost of the conservation reserve program on Kansas agricultural land
title_full_unstemmed The opportunity cost of the conservation reserve program on Kansas agricultural land
title_sort opportunity cost of the conservation reserve program on kansas agricultural land
publisher Kansas State University
publishDate 2016
url http://hdl.handle.net/2097/32620
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