There is an important literature on the causal relationship flowing from the quality of institutions to economic performance. This paper studies this relationship at the micro level by looking at the productivity impacts of land rights. Whereas previous studies used proxies for soil quality and...

Much of neoclassical economics is concerned with prices—more specifically, with relative prices. Similarly, economists have studied behavior in the face of risk and uncertainty for at least a century, and risk and uncertainty are without a doubt a feature of economic life. It is thus puzzling...

Contract farming has often been associated with an increase in the income of participating households. It is unclear, however, whether contract farming increases other aspects of household welfare. We use data from six regions of Madagascar and a selection‐on‐observables design in which we...