Urban Sprawl and Farmland Prices
构建了一个农地估价理论模型，明确考虑城市蔓延的三种效应：农地转为城市用途、对农业收益的影响以及投机效应（以农地转换风险表示）。利用美国县级数据估计模型，发现城市蔓延对农地价值存在这三种效应。
A theoretical model of farmland valuation is developed to explicitly account for three effects of urban sprawl: conversion of farmland to urban uses, effect on agricultural returns, and speculative effect as represented by farmland conversion risk. This model is estimated using county‐level data in the continental United States. Evidence is found for all three effects of urban sprawl on farmland values. Counties more accessible to major urban centers have higher net agricultural returns. Subsidiary evidence supports that the latter effect may be attributed to survival of (or conversion to) high‐valued agriculture around urban centers.