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2017-01-18Diskussionspapier DOI: 10.18452/18586
Estimating location values of agricultural land
dc.contributor.authorHelbing, Georg
dc.contributor.authorShen, Zhiwei
dc.contributor.authorOdening, Martin
dc.contributor.authorRitter, Matthias
dc.date.accessioned2017-11-29T10:25:43Z
dc.date.available2017-11-29T10:25:43Z
dc.date.issued2017-01-18
dc.identifier.urihttp://edoc.hu-berlin.de/18452/19282
dc.description.abstract“Bodenrichtwerte” reflect the average location value of land plots within a specific area. They constitute an important source of information that contributes to price transparency on land markets. In Germany, “Bodenrichtwerte” are provided by publicly appointed expert groups (Gutachterausschüsse). Using empirical data from Mecklenburg-Western Pomerania between 2013 and 2015, this article examines the relation between “Bodenrichtwerten” and statistically determined location values. It turns out that “Bodenrichtwerte” tend to underestimate location values of arable land by 11.5 percent on average. This underestimation can be traced back to the pronounced increase of land prices in the observation period. As an alternative to the expert-based determination of location values, we suggest a nonparametric smoothing procedure that rests on the Propagation-Separation Approach. The application of this data-driven procedure achieves an accuracy comparable to that of official “Bodenrichtwerte” at the one-year ahead prediction of location values without the requirement of expert knowledge.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectland valueeng
dc.subjectadaptive weight smoothingeng
dc.subjectagricultural land marketseng
dc.subjectpropagation-separation approacheng
dc.subjectPSAeng
dc.subject.ddc330 Wirtschaft
dc.titleEstimating location values of agricultural land
dc.typeworkingPaper
dc.identifier.urnurn:nbn:de:kobv:11-110-18452/19282-9
dc.identifier.doihttp://dx.doi.org/10.18452/18586
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages19
local.edoc.type-nameDiskussionspapier
local.edoc.institutionWirtschaftswissenschaftliche Fakultät
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2017
local.edoc.container-issue2
local.edoc.container-erstkatid2195055-6

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