We specify a system of equations that fully reflects the supply and demand sides of the market for agricultural open space at equilibrium. Although simple, the system is exceedingly flexible and allows for household and parcel heterogeneity. We derive an empirical model directly from the...

An unprecedented land grab is taking place around the world. Fearing future food shortages or eager to profit from them, the world`s wealthiest and most acquisitive countries, corporations, and individuals have been buying and leasing vast tracts of land around the world. The scale is...