We analyze optimal contracts and optimal matching patterns in a simple model of partnershipwhere there is a double-sided moral hazard problem and potential partners differ intheir productivity in two tasks. It is possible for one individual to accomplish both tasks (soleproduction) and there are...

This paper analyzes an environment where a plotof land is currently under agricultural use under tenancy, andboth the landlord and the tenant can invest to enhance agricultural productivity. There is the possibility of converting theland to non-agricultural use. We analyze the incentives of...

In this paper we review as well as contribute to the empirical literature on the impact of landreform on agricultural productivity in India. We find that, overall for all states, land-reform legislation had anegative and significant effect on agricultural productivity. However, this hides...

In this paper we analyze the effect of inequality in the distribution of endowments of privateinputs (like land, capital) on production efficiency through its effect on the voluntary provisionof collective inputs (like irrigation, public research) that are complementary in production withthose...

The well-known inverse relationship between farm size and productivity is usually explained in terms ofdiminishing returns with respect to land and other inputs coupled with various types of market frictions thatprevent the efficient allocation of land across farms. We show that even in the...

The most striking difference in corporate-governance arrangements between rich andpoor countries is that the latter rely much more heavily on the dynastic family firm,where ownership and control are passed on from one generation to the other. We arguethat if the heir to the family firm has no...