land tenancy contract they signed with their tenant and similar subjective perception as a result of the (hypothetical …) alternative contract. This paper discusses how one might explicitly incorporate subjective perceptions in applied contract theory …

-rent contracts in U.S. agriculture. The focus is on the contribution of explanatory variables that represent transaction costs, risk …-sharing incentives, or both. An empirical model of contract choice is tested against the 1999 Agricultural Economics and Land Ownership … Survey (AELOS) and finds mixed evidence for low transaction cost and risk-sharing-incentive motives for landlord …