This paper documents the existence of behavioural biases in the land market and shows how buyers correct their biases by learning from repeated transactions. Using a sample of government land sales along two sides of the heating service line in China, we first show land parcels transacted in the...

Whether the prospective buyer is a farmer or rancher looking to expand operations, a sportsman seeking to preserve habitat for wildlife, or a nature enthusiast trying to conserve native flora and fauna, acquiring rural land can be a rollercoaster of exciting and stressful experiences. In Buying...