Abstract
The theoretical model of farm size and farmland price bidding potential developed by Harris and Nehring (HN) and published in the May 1976 Journal has been referred to as significant in explaining factors affecting farmland price competition (Lee and Rask, Stanton, Carter and Johnston). As debate will likely continue over family farm problems and future farm policies (Bergland), further research using the HN model is to be expected. Researchers already have extended the HN model. Adams regarded the HN model as providing a broader framework than previous models for investment decisions. He considered the bid prices conceptually more general and complete than decision rules based solely on present value. Harris and Nehring (1977) extended the model to include a random element.
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