@article{Kahle:296797,
      recid = {296797},
      author = {Kahle, Christoph and Seifert, Stefan and Hüttel, Silke},
      title = {Price dispersion in thin farmland markets: What is the  role of asymmetric information?},
      address = {2019-11-25},
      number = {2219-2019-4907},
      month = {Nov},
      year = {2019},
      abstract = {This paper investigates the role of information and search  cost in the price formation in thin farmland markets. We  adopt a hedonic pricing model under incomplete information  to analyze a comprehensive data set with more than 10,000  transactions between 2014{2017 in the Eastern German state  Saxony-Anhalt. Estimation employs a two-tiered stochastic  frontier to capture deviations from the ecient price due to  search costs asymmetrically distributed between buyers and  sellers. Relating these costs to the degree of  professionalism, we nd institutional sellers relying on  public tenders to achieve the lowest losses from being  information decient. For buyers, we nd informational  advantages in particular for farmers that are also tenants,  while non-tenant farmers have only advantages for large  transactions.},
      url = {http://ageconsearch.umn.edu/record/296797},
      doi = {https://doi.org/10.22004/ag.econ.296797},
}