This article investigates the role played by informational cost in agricultural land markets to explain price dispersion. Based on a hedonic model under incomplete information, we build a two-tier stochastic frontier. By linking costs of being information deficient to agent characteristics such...

Neue Technologien und Innovationen stellen heutzutage wichtige Schlüsselelemente derWachstums‐ und Erfolgssicherung von Unternehmen dar. Durch einen in Geschwindigkeitund Intensität immer schneller zunehmenden Wettbewerb nehmen Innovationen eine immerzentralere Rolle im Praxisalltag von...

This article investigates the role played by informational cost in agricultural land markets to explain price dispersion. Based on a hedonic model under incomplete information, we build a two-tier stochastic frontier. By linking costs of being information deficient to agent characteristics such...