This paper presents an analysis of agricultural contracts using a transaction costs approach. We contend that in a context of modern agriculture, with well defined property rights, agricultural contracts must balance costs and benefits, aligning tenant and landlord incentives towards a similar...

Because of their perishable nature and the impact of their quality on consumers, agricultural products have always raised important problems of coordination and control with high transaction costs. The recent period in the agrifood industry has registered substantial evolution in devices...

This paper presents a new model which incorporates features of developing country agriculture that may be critical in shaping the welfare outcomes of alternative agricultural policies. The model features heterogeneous households linked through markets in a rural economy-wide structure, with...

Forming and using cooperatives as marketing channel is usually advised to African smallholder farmers for overcoming the constraint of market access. However, limited evidence of cooperative behavior in marketing has been observed. In this paper, we estimate a two-stage model of commitment to...

This study analyzes transaction costs occurred in the existing set-up of upstream-downstream relations and reward mechanisms of the watershed services in Sumatra, Indonesia. The rewards are manifested through property right reforms in terms of "recognition" and "loss of fear of eviction" among...

Most markets have evolved as buyers and sellers constantly search for ways to create value, however this has not occurred naturally in all areas of the economy markets are missing for some goods, including the environment. In such cases, transaction costs linked to property rights, asymmetric...

In this paper we study the determinants of the factor content of the CEE agricultural trade. Examining empirically three hypothesis, which relate cross-country differences in technology, relative factor abundance and transaction costs and market imperfections to the factor content of trade, we...