AN ANALYSIS OF FACTORS INFLUENCING ADOPTION OF BMPS AMONG LOUISIANA SUGARCANE PRODUCERS

Multivariate probit analysis of BMP adoption, based on Louisiana sugarcane producer data, indicates that education and cost-sharing programs are effective means of increasing adoption rates. Results also indicate that contemporaneous correlation exists within and between management measures, implying a policy strategy of coordinating education and cost-sharing programs to maximize effectiveness.best management practices, multivariate probit analysis, Farm Management, Research Methods/ Statistical Methods,

INTRA- AND INTER-STATE TRANSFERABILITY OF SOYBEAN VARIETY RESEARCH

An example of agricultural researching technology transfer and implications for the fiscal coordination and conduct of agricultural research programs is presented. Uniform Soybean Tests conducted in four Southern States are used to estimate the potential for transferability of soybean variety research among homogeneous sub-areas. The results indicate a high degree of transferability among the sub-areas. Coordinated management of soybean variety research could potentially provide more effective expenditure of soybean breeding research investments. Additionally, the concept or research transferability is not limited to soybeans or soybean variety research. Increased coordination of agricultural research investments by individual states may enhance existing benefits.Research and Development/Tech Change/Emerging Technologies,

RURAL LAND VALUES AND TENURE ARRANGEMENTS IN LOUISIANA

This report presents the results from the first annual Louisiana Rural Land Market Survey. The survey was designed to collect detailed information from rural real estate professionals regarding market conditions in their areas. Results of this study suggest that land values vary by area of the state and the primary commodity grown on the tract. Substantial variation in land value within areas and by parish suggests a number of factors affect rural land values and markets. Further research will be designed to measure the effects of these various factors on rural real estate markets.Land Economics/Use,

SPATIAL RELATIONSHIPS IN RURAL LAND MARKETS WITH EMPHASIS ON A FLEXIBLE WEIGHTS MATRIX

Empirical research has shown that location and economic development are important factors in rural market. With more and more rural land being converted at the urban fringe, buyer, sellers, planners, appraisers, tax assessors, and others are expected to have an increasing need for information related to the effect of location on rural land values. In econometric land value estimation, misspecification of the variance-covariance matrix results in loss of efficiency, predictive accuracy, and biased inference. The form of the weight matrix is also important. Additional flexibility can be introduced by including a decay parameter, along with different number of neighbors to provide improved estimates. The general objective of this paper is to develop an empirical rural land value model. Specifically, this study emphasizes the use of a more flexible spatial weight matrix by including a decay parameter along with different number of neighbors. Data for this study are based on rural land market sales from the southeast area of Louisiana that were collected using mail survey techniques for the period January 1993 through June 1998. Hedonic models are estimated by SAR using two types of weight matrices: the Delaunay, a rigid form of a weight matrix, and a flexible nearest neighbor asymmetric matrix that includes a decay parameter that lies between 0.4 and 1, along with different number of neighbors m ranging from 6 to 30. Likelihood ratio tests are used to test for statistical fit between spatial and OLS models. Results also suggest that the SAR model based on the Delaunay matrix and nearest neighbor matrix performed better than the OLS model. We also found that this particular set of data, one cannot conclude that the flexible nearest neighbor matrix outperforms the use of a more rigid spatial weight matrix. Further research should continue to test for other forms of spatial weight matrices.Land Economics/Use,

ALTERNATIVE MEASURES OF LOCATION FOR RURAL LAND MARKET ANALYSIS

Empirical research has used various distance variables to measure the effect of location on land values. This study tests alternative models using different distance measures such as travel time, straight line, and road distance that affect land values. The model that appears to best fit the data is the travel time model.Land Economics/Use,

MARGINAL EFFECTS OF LAND CHARACTERISTICS AND PURCHASE FACTORS ON RURAL LAND VALUES

Hedonic models estimate the marginal effect of land characteristics and factors that contribute to a purchase decision on rural land values in submarkets of north Louisiana. While size of tract and mix of land use have expected impacts on rural land values, forces that motivate the buyer also affect price.Land Economics/Use,

AN EMPIRICAL ANALYSIS OF THE LOUISIANA RURAL LAND MARKET

Structural changes in the farm production sector, continued pressure to reform existing agricultural policies, and an increasing demand for nonagricultural real estate emphasize the need for rural land market research. Rural land, with a wide diversity of physical characteristics and use, continues to be a large portion of Louisiana's total land base. Of Louisiana's total 28,493,440 land acres, cropland and pastureland account for 7,811,413 acres or 27 percent (1992 Louisiana Census of Agriculture). If timberland is included (USDA, Forest Service, 1991), rural land accounts for 79 percent of Louisiana's total land acreage. The measurement of economic, locational, and topographic variables hypothesized to influence rural land values is expected to be useful in managing Louisiana's land resource. This report presents estimates of the effects of various rural real estate characteristics on the value of rural real estate. This analysis does not include macroeconomic variables and aesthetic or psychological factors that may influence rural real estate prices. Therefore, information provided herein should be used in a general context and should not be used as the sole source of valuation for any specific parcel of rural real estate. Current local market conditions may not be accurately reflected in the results because of the limited data and the complexity of factors influencing values in a local land market.Land Economics/Use,

LOUISIANA RURAL LAND VALUES AND TENURE ARRANGEMENTS

Rural land comprises 77 percent of Louisiana's total land acreage, with a wide diversity of physical characteristics and use. Therefore, reliable rural real estate market information is expected to be of value to landowners, investors, borrowers, lenders, realtors, appraisers, public taxing authorities, and policy makers. This report presents the results from the second annual Louisiana Rural Land Market Survey. Results of this study suggest that land values vary by area of the state and the primary commodity grown on the tract. Substantial variation in land value within areas and by parish suggests a number of factors affect rural land values and markets.Land Economics/Use,

FINANCIAL IMPLICATIONS OF A NEW FARM POLICY ENVIRONMENT

The 1996 Federal Agriculture Improvement and Reform (FAIR) Act dramatically affects the decision-making environment of farms by introducing provisions for reducing farm income support payments. These program changes are likely to affect not only farm incomes, but also farm capital asset markets. The combined effect of these two financial variables is expected to alter the risk position and the debt repayment capacity on farms. Empirical results of this analysis indicate that the absence of farm income support payments reduces debt repayment capacity and increases the risk position on a representative Louisiana cotton-soybean farm.debt repayment, farm policy, financial leverage, safety-first model, Agricultural and Food Policy, Agricultural Finance,

An Empirical Analysis of the Louisiana Rural Land Market (Bulletin #857)

The measurement of economic, locational and topographic variables hypothesized to influence rural land values is expected to be useful in managing Louisiana\u27s land resource. This report presents estimates of the effects of various rural real estate characteristics on the value of rural real estate.https://digitalcommons.lsu.edu/agcenter_bulletins/1046/thumbnail.jp