Ai, Chunrong; Arcand, Jean-Louis; Éthier, François - In: L'Actualité Economique 74 (1998) 3, pp. 315-341
When moral hazard concerns are present, standard contract theory predicts the "Marshallian inefficiency" of sharecropping contracts, in the sense that, ceteris paribus, sharecropping tenants will use different amounts of inputs than owner operators. In this paper, we examine this issue using a...