Past test of differences in economic efficiency between small and large farms in developing countries used arbitrary criteria to divide samples of farms into the two size groups. Given the inferential danger from such arbitrary groupings, this paper presents a method for conducting the...

We examine the determinants of land prices in the north-eastern United States by applying Johansen and Juselius maximum-likelihood cointegration procedure to two recent land price models. The results suggest that there is an equilibrium relationship between real land price and real gross farm...