This paper quantifies the effects of the Conservation Reserve Program (CRP) on farmland and developed land prices. Results show that the CRP increases farmland and developed land prices by 1.8% and 0.6%, respectively, on national average, with the largest increases in the Mountain, Southern...

This paper evaluates the effects of the Conservation Reserve Program (CRP) on land values. A theoretical model is presented to analyze the interaction between farmers’ CRP participation decisions and land values. Empirical models are estimated to evaluate the effects of the CRP on land values....