Information Rigidities and Farmland Value Expectations
利用1964至2021年爱荷华州农田的预期与实际价值数据，检验信息刚性对农田价格预期低效的解释力，发现农田专业人士更新信息不频繁或低估新信息。
<h3>Abstract</h3> This study examines the degree to which information inefficiency influences farmland price expectations. Using expectations and observed values of Iowa farmland from 1964 to 2021 and the empirical test of Coibion and Gorodnichenko (2015), this study estimates the degree to which information rigidities hold explanatory power for information inefficiency. Our results suggest Iowa farmland professionals infrequently update their information set or underweight new information. This study provides a necessary step toward a better understanding of the role of information in farmland market efficiency, furthering the discussion of development of additional public information in farmland markets.