The hedonic approach has been advanced recently as an important tool for assessing the value of non-market environmental attributes. In its most usual form, the method involves an attempt econometrically to capture differential prices for homes attributable to variations in the environmental...

The paper's hypothesis is that the farmers using land with urban influenced prices are at a competitive disadvantage because their land input cost exceeds its calitialized earning power while land prices for other farmers are based on earning ability. This hypothesis was investigated by...