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Farm real estate pricing under risk: an empirical investigation

Farm real estate pricing under risk: an empirical investigation

Southern Economic Journal 49(1): 77-87

The purpose of this paper is to explore farm real estate price determination in the context of capital market theory to determine the relationship between the farm real estate market and the market for common stock. The approach should also demonstrate the importance of risk in explaining farm real estate prices. We must address two basic issues, namely, (1) what is the appropriate measure of an asset's risk?, and (2) what is the relationship in equilibrium between this measure of risk and (a) expected returns and (b) asset prices?

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Accession: 001077696

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DOI: 10.2307/1058543

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