PT  - JOURNAL ARTICLE
AU  - Fiechter, Chad
AU  - Kuethe, Todd
AU  - Zhang, Wendong
TI  - Information Rigidities and Farmland Value Expectations
AID  - 10.3368/le.101.2.102623-0111R1
DP  - 2024 Nov 30
TA  - Land Economics
PG  - 102623-0111R1
4099  - http://le.uwpress.org/content/early/2024/11/25/le.101.2.102623-0111R1.short
4100  - http://le.uwpress.org/content/early/2024/11/25/le.101.2.102623-0111R1.full
AB  - This study examines the degree to which information inefficiency influences farmland price expectations. Using expectations and observed values of Iowa farmland from 1964 to 2021 and the empirical test of Coibion and Gorodnichenko (2015), this study estimates the degree to which information rigidities hold explanatory power for information inefficiency. Our results suggest Iowa farmland professionals infrequently update their information set or underweight new information. This study provides a necessary step toward a better understanding of the role of information in farmland market efficiency, furthering the discussion of development of additional public information in farmland markets.