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• Livanis, G
• Moss, C
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Entropy 2011, 13(3), 668-682; doi:10.3390/e13030668

Article

Did the Federal Agriculture Improvement and Reform Act of 1996 Affect Farmland Values?

Ashok K. Mishra ^1,* , Grigorios T. Livanis ²  and Charles B. Moss ³

¹ LSU AgCenter, Department of Agricultural Economics and Agribusiness, Louisiana State University, Baton Rouge, LA 70803, USA ² International Business and Strategy Group, Northeastern University, Boston, MA 02115, USA ³ Department of Food and Resource Economics, University of Florida, Gainesville, FL 32611, USA

* Author to whom correspondence should be addressed.

Received: 4 March 2011; in revised form: 13 March 2011 / Accepted: 14 March 2011 / Published: 17 March 2011

(This article belongs to the Special Issue Advances in Statistical Mechanics)

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Abstract: Farmland values are affected by numerous factors, including farm policy, shifts in demand for agricultural output both foreign and domestic, monetary policy and urban pressure. In this study we use an information measure to examine whether the shift toward a more market-oriented policy in 1996 changed the relationship between farmland values and government payments. The results indicated that the shift in agricultural policy resulted in significant shift in this relationship.

Keywords: agricultural policy; entropy; farmland value; government payments

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