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In the presence of moral hazard, received agency theory predicts the "Marshallian inefficiency" of agricultural tenancy contracts, meaning that inputs per hectare on sharecropped land will differ from that on owned land. In this paper, we test for the presence of Marshallian inefficiency using a...
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In the presence of moral hazard, received agency theory predicts the "Marshallian inefficiency" of agricultural tenancy contracts, meaning that inputs per hectare on sharecropped land will differ from that on owned land. in this paper, we test for the presence of Marshallian inefficiency using a...
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