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David M. Henneberry, Richard L. Barrows, Capitalization of Exclusive Agricultural Zoning into Farmland Prices, Land Economics, Vol. 66, No. 3, Private Markets, Public Decisions: An Assessment of Local Land-Use Controls for the 1990s (Aug., 1990), pp. 249-258
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Henneberry et al. (1990) studied this question.
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