Competition and Custom in Economic Contracts: A Case Study of Illinois Agriculture.
Survey data suggest that cropsharing contracts exhibit a much higher degree of uniformity than is warranted by economic fundamentals. We propose a dynamic model of contract choice to explain this phenomenon. Landowners and tenants recontract periodically, taking into account expected returns as well...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
2001
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