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Abstract

The objective of this study is to analyze and compare the valuation of farmer participation in the farmland leasing market and the custom-farming services market. This study analyzes surveys on 301 rice farmers in Taiwan in 2014 using the contingent valuation method to analyze the willingness to pay and willingness to accept of both markets. The empirical analysis indicated that factors of greater significance causing reduced the WTA for lending farmland, which can reduce supply in the farmland-leasing market include the expectation of farmland diversion, and the existence of transaction costs in the farmland lending market. The analysis also indicates that an increase in the WTA price for lending farmland was a primary factor for the increase in the WTP for custom-farming services, which indicates that the vibrant growth of the custom-farming services market in Taiwan is affected by the WTA farmland lending. The findings show that development of the custom-farming services market cannot be expected to lead to greater farmland liquidation. Acknowledgement :

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