کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
883965 912362 2011 19 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
A theory of sharecropping: The role of price behavior and imperfect competition
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
A theory of sharecropping: The role of price behavior and imperfect competition
چکیده انگلیسی

This paper proposes a theory of sharecropping on the basis of price behavior in agriculture and imperfectly competitive nature of rural product markets. First we show the superiority of sharecropping over fixed rental contracts in a benchmark landlord–tenant model with seasonal variation of price, where the tenant receives a low price for his output while the landlord can sell his output at a higher price. Then we consider more general interlinked contracts to show that there are multiple optimal contracts. Finally we incorporate imperfect competition in the product market by assuming that a third agent (called the ɛ-agent) may emerge to compete with the landlord as a buyer of the tenant's output. It is shown that (i) the presence of this competing agent generates a Pareto-improving subset of share contracts out of the multiple contracts and (ii) the unique contract that is robust to the emergence of the ɛ-agent results in sharecropping.


► A theory of sharecropping on the basis of price behavior and imperfect competition in product markets.
► A landlord-tenant model with seasonal variation of price.
► Optimality of sharecropping in the class of tenancy contracts.
► Multiple optimal contracts under more general interlinked contracts.
► Imperfect competition in the product market resolves multiplicity: unique robust contract results in sharecropping.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 80, Issue 1, September 2011, Pages 181–199
نویسندگان
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