This paper uses a model with transaction costs and imperfect competition in the land market to analyze the efficiency and welfare effects of land reforms. We show that removing only one imperfection may have very different efficiency and welfare effects than would otherwise result from reforms...

The Coase theorem emphasizes the role transactions costs play in efficient market outcomes. We document inefficient outcomes, in the presence of a transactions cost, in southern California land markets and the corresponding transition to efficient outcomes after the transactions cost is...

Protecting species' habitats is the main policy tool employed across the globe to reduce biodiversity losses. These protections are hypothesized to conflict with private landowners' interests. We study the economic consequences of the most extensive and controversial piece of such environmental...

This report is a summary of the data contained on the farmland sales portion of the Minnesota Land Economics (MLE) web site (http://landeconomics.umn.edu ) as of February 15, 2020. It is formally reissued each year, as new sales data become available. The present document consists largely of...