Pricing manure spreading rights: measure from the land market
Résumé
This paper deals with manure spreading markets in France. We focalise on the capitalisation of the manure spreading rent in the land market. First, the paper summarises the literature on farmland prices. Then we develop a theoretical model based on farm profit maximisation from which we derive inverse demand functions for land and manure spreading rights. We then provide a hedonic application dealing with 7000 individual transactions from the land market of Brittany (westem France). Land price is explained by land quality and specialisation, cereal and milk yields. Land price rises when livestock concentration increases. Pig density gets the best results. We conclude making a comparison with the manure market in the Netherlands and dealing with future research.
Origine : Fichiers produits par l'(les) auteur(s)
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