Responsiveness of Rural and Urban Land Uses to Land Rent Determinants in the U.S. South
Ricardian and von Thünen land rent models are combined into a single land use shore model including farm, forest, and urban lurid uses. The lurid share model is applied to the Southern United States, and elasticities are extracted that measure land share response to changes in iqulation, income, land values, prices, and costs in counties with different degrees of urbanization. The study explores the effeet of treating either rural or urban land as a residual use. While this practice is common in existing land use studies, it is found to significantly affect parameter estimates in this county-level analysis.