This paper examines whether permanent farmland preservation programs are capitalized into farmland prices. We consider the landowner's decision to voluntarily participate and correct for sample selection bias in our estimation of sales prices. Initial results suggest development restrictions...

Government agencies in urbanizing areas are increasingly utilizing purchase and transfer of development rights programs to preserve farmland and protect local farm economies. This article tests the effect of development restrictions imposed by permanent easement sales on farmland sales prices,...

Profit-maximizing land developers are hypothesized to configure subdivisions to minimize the effects of a conservation regulation on developed land values, subject to their expectations about the demand for developed building lots. This hypothesis allows development of a hedonic price model that...

This paper describes four innovative farmland preservation techniques and gauges support through interviews of key stakeholders: program administrators, lawmakers, and landowners. Four techniques were selected for assessment from approximately 30 novel techniques: rights of first refusal; term...

While agricultural land preservation programs seek to maximize number of acres, to preserve productive farms, to preserve contiguous farms, and to preserve threatened farms, they are often evaluated solely on the number of acres preserved. Using a Farrell efficiency analysis, preserved parcels...

We analyze the factors influencing participation in Maryland's farmland preservation programs using data from a survey of agricultural landowners and spatial data on individual parcels. Factors influencing participation included distance from a major city, proximity to preserved parcels, length...

More than 110 state, county, and local governments have implemented agricultural land preservation programs to permanently preserve farmland. Assigning a value to the development is difficult and can be costly. Data was collected on 409 preservation transactions from 3 Maryland counties and...

This paper studies bidder behavior in an innovative program in which farmers compete to sell their development rights to the State. We derive a reduced form bidding model that includes both private value and common value components. This model allows us to estimate the role of bidder...

We examine if the farm sector has a critical mass. If a critical mass of farmland acres is needed to sustain a viable agricultural sector, agriculture profits may decline once a region has dropped below this threshold, causing the rate of farmland loss to accelerate. Agricultural census and...