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USING RIGHTS OF FIRST REFUSAL FOR FARMLAND RETENTION

  • Duke, Joshua M.
  • Malcolm, Scott A.
  • MacKenzie, John
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Publication date
April 2017
Icon DOI
10.22004/ag.econ.20760

Abstract

How can rights of first refusal protect prime agricultural land? This paper develops a theory for valuing rights of first refusal based on compensation for foreclosing future demand, information asymmetry, and advance purchase of market share. A procedure is developed for governments to use these rights to prevent conversion

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