Bandiera, Oriana; Levy, Gilat - In: Contributions in Economic Analysis & Policy 3 (2004) 1, pp. 1-23
This paper analyses the consequences of an unusual type of land redistribution; we take land from the very rich, as usual, but give it to the rich instead of the poor. We show that such "moderate" reform reduces agency costs and thereby increases productivity, total surplus in the economy, and...