Empirical studies on farmland rental rates have predominantly concentrated on modelling conditional means using spatial autoregressive models, where a linear functional form between the response and the covariates is usually assumed. However, if it is in fact non-linear, misspecifying the...

Giving empirical application to spatial econometrics models is the main fall in the economic theory approach. Controlling for spatial correlation and dependence is becoming an important part in farmland valuation literature. Farmland is the most basic resources for agricultural production. Price...