Author(s)

Rachna Tewari, Jeff Johnson, Darren Hudson, Chenggang Wang, Dennis Patterson

Department of Agricultural and Applied Economics, Texas Tech University, Lubbock, USA.
Department of Agriculture, Geosciences, and Natural Resources, The University of Tennessee at Martin, Martin, USA.
Department of Political Science, Texas Tech University, Lubbock, USA.

The Texas High Plains faces projections of increasing temperature and declining precipitation in the future on account of its semi-arid climate. This research evaluated the impact of climatic variability on agricultural land prices under different land uses in the Texas High Plains, employing the Ricardian approach of land climate pricing over a study period of 1991-2011. The results indicate that climatic variability had a greater impact on irrigated land prices as compared to dryland and ranchland. This study could be instrumental in predictive market analyses of rural land values in semi-arid economies which are vulnerable to future climate change.

Climatic Variability; Dryland; Irrigated Land; Land Prices; Ranchland; Texas High Plains

R. Tewari, J. Johnson, D. Hudson, C. Wang and D. Patterson, "Does Climatic Variability Influence Agricultural Land Prices under Differing Uses? The Texas High Plains Case," Natural Resources, Vol. 4 No. 8, 2013, pp. 506-513. doi: 10.4236/nr.2013.48062.