Land Price Volatility in a Geographically Dispersed Market
检验了土地价格波动随市场距离增加而增大的假说，利用1969-1987年美国玉米带五个州的县级数据，发现西部玉米带价格波动大于东部，解释了大平原农民在压力时期面临更大财务问题的原因。
Abstract Historical evidence and theory lead to a hypothesis that land price variation increases with distance to market. This hypothesis is tested with county data from five Cornbelt states during the period 1969 to 1987, when price changes were unusually large. Our data support the hypothesis. In the 70s, prices increased more in the Western Cornbelt than in the Eastern Cornbelt; in the 80s, the Western Cornbelt experienced the more precipitous price declines. Our hypothesis explains why Great Plains farmers have experienced greater financial problems during times of stress than have many other farmers.