This paper examines the apparent conflict between the classical assumption of a bargaining agricultural sector wage and the neo-classical assumption of a competitive wage in the context of a labour surplus developing economy. It concludes that the relatively inelastic supply of labour hours...

This paper discusses the testable implications of the Walrasian hypotheses: H1 - Observed market demand is the sum of consumer's demands derived from utility maximization subject to budget constraints. H2 - There exists an observable (locally) unique equilibrium price system such that the...

This paper examines whether sharecroppers and fixed-rent tenants in the rice farms of South Asia are distinguished by their farming skills. The idea that fixed-rent contracts are typically given to relatively skilled tenants dates back to the agricultural (tenancy) ladder hypothesis of Spillman...

The paper aims to measure transaction costs and its effects on labor market participation and on wage earnings. The observed differences between buying and sellin gprices of rice across households are used to calculate transaction costs indices for villages which are incorporated into the...