PT  - JOURNAL ARTICLE
AU  - B. Wade Brorsen
AU  - Damona Doye
AU  - Kalyn B. Neal
TI  - Agricultural Land and the Small Parcel Size Premium Puzzle
AID  - 10.3368/le.91.3.572
DP  - 2015 Aug 01
TA  - Land Economics
PG  - 572--585
VI  - 91
IP  - 3
4099  - http://le.uwpress.org/content/91/3/572.short
4100  - http://le.uwpress.org/content/91/3/572.full
SO  - Land Econ2015 Aug 01; 91
AB  - Per acre prices of agricultural land increase as parcel sizes decrease. The puzzle is why all agricultural land is not sold in small parcels. Small parcels tend to be close to residential areas and close to quality roads. The small parcel premium lessens as parcels are more distant from urban areas. This suggests that much of the small parcel premium is due to parcels being purchased based on nonagricultural use values. Thus, an explanation of the small parcel premium puzzle is that land with low nonagricultural use values may not have a small parcel premium. (JEL Q15, R14)