1. AGRICULTURAL LAND PRICE DIFFERENTIALS AND THEIR RELATIONSHIP TO POTENTIALLY MODIFIABLE ASPECTS OF THE CLIMATE.
- Author
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Johnson, S. R. and Haigh, Peter A.
- Subjects
ECONOMIC forecasting ,LAND use -- Economic aspects ,CLIMATOLOGY ,SOCIOECONOMICS ,RENT (Economic theory) ,LAND use ,SOCIAL scientists ,ECONOMISTS ,ECONOMICS - Abstract
This article discusses agricultural land price differentials and their relationship to potentially modifiable aspects of the climate. Economists and social scientists are facing some interesting but difficult problems due to the development of physical technology for modifying weather. In view of the rapid development of the physical capability for modifying weather, and the evidence of substantial inadvertent weather modification, attempts should be made to estimate empirically some of the economic and social effects of such activities. It is in this light that the study of the relationship between land prices and potentially modifiable aspects of weather is undertaken. Economic rent for agricultural land is by definition a surrogate for a number of economic and noneconomic factors. Empirical attempts at separating or partitioning this residual have been, in general, moderately successful. Isolation of the portion of land rent or land price which is related to potentially modifiable climatic variables may be of importance in suggesting the nature of the impact of such activity on the agricultural sector and thereby helpful in guiding policymakers to more enlightened decisions.
- Published
- 1970
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