Most analyses of allocative efficiency under different forms of agricultural tenure - share tenancy, fixed cash tenancy, and owner cultivation - employ single product models of production These models show that risk sharing encourages share tenants to produce as much as or more that equally...

The related questions of how tenants and landlords choose leasing contracts and how these contracts affect efficient allocation of resources continue to divide economists This article rejects answers suggested by transaction cost models developed by Cheung and by Ip and Stahl and argues that...