Die Pachtpreise in den neuen Bundesländern liegen deutlich unter denen im früheren Bundesgebiet. Nach der neoklassischen Theorie müssten die Pachtpreisunterschiede alleine durch die ökonomische Wertgrenzproduktivität der Flächen zu erklären sein. Einer der Wegbereiter der...

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...

Within this paper, we aim to investigate asymmetries among bidders in land auctions that may entail non-competitive prices. Using representative data for Eastern Germany including winning bids, bidder characteristics, and land amenities, we pursue a structural approach to derive distributions of...