A Microsimulation Model for the Land Rental Market in Irish Farming

28 Pages Posted: 13 Jul 2020

See all articles by Jason Loughrey

Jason Loughrey

Teagasc Rural Economy and Development Programme

Thia Hennessy

University College Cork - Cork University Business School

Date Written: June 21, 2019

Abstract

In this paper, we utilize Teagasc National Farm survey data to analyse the agricultural land rental market in Ireland with a newly developed agent-based microsimulation model. This model is compared to an equilibrium model of the land rental market. We conclude that the microsimulation model has a number of advantages over the equilibrium model in addressing the interactions between landowners and tenants and dealing with farm size concentration. The equilibrium model retains some advantages in dealing with the question of price determination and in illustrating the potential surpluses to be gained from a more active land rental market.

Keywords: Agent-Based Microsimulation Model, Agricultural Land Rental Market, Sealed-Bid Auction, Price Determination, Farm Size Concentration

JEL Classification: C15, D31, Q12, Q15

Suggested Citation

Loughrey, Jason and Hennessy, Thia, A Microsimulation Model for the Land Rental Market in Irish Farming (June 21, 2019). Available at SSRN: https://ssrn.com/abstract=3630993 or http://dx.doi.org/10.2139/ssrn.3630993

Jason Loughrey (Contact Author)

Teagasc Rural Economy and Development Programme ( email )

Athenry
Galway
Ireland

Thia Hennessy

University College Cork - Cork University Business School ( email )

West Wing, Main Quadrangle, College Road
Cork
Ireland

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
6
Abstract Views
147
PlumX Metrics