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In this paper we analyze the factors that affect the choice of land tenure contracts in the semi arid tropics of India. We develop a dynamic principal-agent model with one-sided private information to explain the co-existence of wage, rent and share-cropping contracts. We generate empirically...
Persistent link: https://www.econbiz.de/10005800329
In this paper we consider an experimental two-period game characterized by incomplete information.The agent produces an output for the principal and can have either high or low costs of production. The principal ex ante knows only that each is equally likely. The principal's aim is to extract...
Persistent link: https://www.econbiz.de/10005839056
Two issues in land tenure contracts in agriculture that have vexed economists are (1) the appearance and co-existence of multiple contracts, often in adjoining plots of land and (2) the choice of a share-cropping contract because a share contract being analogous to a proportional tax, is...
Persistent link: https://www.econbiz.de/10005800415