This article investigates the role played by informational cost in agricultural land markets to explain price dispersion. Based on a hedonic model under incomplete information, we build a two-tier stochastic frontier. By linking costs of being information deficient to agent characteristics such...

Compared to other asset classes, information on transactions of residential real estate is scarce and available only with delay. Listing information from web-platforms is abundant and timely. Is listings data useful for research? We examine this question and find that distributions of ask and...