The Effect of Farmland Preservation Programs on Farmland Prices
利用马里兰州数据，检验永久地役权销售对农田销售价格的影响，发现限制对价格影响不显著，可能鼓励更多参与或降低地役权价格。
Abstract Government agencies in urbanizing areas are increasingly utilizing purchase and transfer of development rights programs to preserve farmland and protect local farm economies. This article tests the effect of development restrictions imposed by permanent easement sales on farmland sales prices, using Maryland data. We correct for selectivity bias due to the voluntary nature of these programs in estimating hedonic sales equations. Although preserved parcels' actual land values are lower, the effect of the restrictions is not statistically significant. These findings may encourage additional participation in preservation programs or justify reductions in the easement prices paid by agencies.