ESTIMATING THE MARKET VALUE OF FARM TRACTORS IN CHILE: AN ECONOMETRIC APPROACH

Germán Lobos¹, Ricardo Baettig², Berta Schnettler³, y Rodrigo Saens¹

ABSTRACT

The aim of this study was to determine the main factors influencing the market price of agricultural tractors in Chile. A linear log model is used with data collected from ChileAutos, which is a website for vehicle sales, including 156 offers and 20 brands of new and used tractors. The results suggest that tractor price depends negatively on tractor age, increases at decreasing rates with tractor power and depends significantly on the manufacturer’s brand.

Key words: tractor price, tractor power, tractor brand.

¹ Facultad de Economía y Negocios, Universidad de Talca, 1 Poniente 1141, Talca, Chile.

² Escuela de Ingeniería Forestal, Universidad de Talca, 1 Poniente 1141 Talca, Chile.

³ Facultad de Ciencias Agropecuarias y Forestales, Bioren-UFRO, Universidad de La Frontera, Temuco, Chile.

^* Corresponding author E-mail: globos@utalca.cl