Factors Influencing Illinois Farmland Values
使用县级面板数据估计伊利诺伊州农田价值的特征价格模型，发现土地生产力、人口密度和收入提升价值，而地块面积、偏远程度、距大城市距离和养猪密度降低价值。
A hedonic model of Illinois farmland values is estimated using county‐level cross‐section time‐series data. Explanatory variables include land productivity, parcel size, improvements, distances to Chicago and other large cities, an urban‐rural index, livestock production through swine operation scale and farm density measures, population density, income, and inflation. The inclusion of spatial and serial correlation components substantially improves the model fit. Farmland values decline with parcel size, ruralness, distance to Chicago and large cities, and swine farm density, and increase with soil productivity, population density, and personal income.