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Share Contract Revisited: A New Transaction Cost Approach

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Date

2021

Authors

Ding, Jian
Zhou, Yixiao

Journal Title

Journal ISSN

Volume Title

Publisher

De Gruyter

Abstract

The purpose of this paper is to explore how sharecropping contracts are chosen over fixed-rent contracts. There are two concerning issues. First, theoretical explanation has been criticized for not providing a satisfactory answer to the question as to why share contracts are chosen. Second, among the existing empirical studies, there are great controversies about the impact of variance of output. Inspired by the latest insights from (Cheung, S. N. S. 2014. Economic Explanation. Hong Kong: Arcadia Press.), this paper not only provides an explanation for the choice of share contract that is suitable for empirical testing, but also solves the puzzle over variance of output.

Description

Keywords

choice of contract, share cropping, transaction cost, new institutional economics

Citation

URI

http://hdl.handle.net/1885/315638

Collections

ANU Research Publications

Source

Man and the Economy

Type

Journal article

Book Title

Entity type

Access Statement

Open Access

License Rights

DOI

10.1515/me-2021-0001

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