The objective of this article is to provide new empirical evidence on landlord-tenant choices of share versus cash-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...

This article presents econometric estimates of the adult working-age male hazard function of interstate migration fitted to data obtained from migration decisions of adult males over a twenty-year period. The results show a strong negative effect of the real wage difference between origin and...

State crop, livestock,and aggregate agricultural total factor productivity (TFP) data, 1950–82, are examined for evidence of convergence to a single TFP level (σ-convergence) or to a steady state rate of growth (β- or conditional convergence). Our empirical results do not support...

A conceptual analysis of important issues in the organization and management of academic research is presented. Principal-agent theory is applied to derive optimal compensation schemes for scientists when they differ in ability, risk aversion, cost of effort, and reservation utility, and to show...