Institutions and properties of the transaction: influences on land rental contract design in Poland
AbstractThe article analyses influences on the design of land rental contracts in Poland. Attention is paid to the effect of both the properties of the transaction as identified in Transaction Cost Economics (asset-specificity, uncertainty, frequency) and the features of the institutional environment (legal as well as customary rules) as studied by the Economics of Property Rights. The conclusion is that institutional influences have a very strong effect and should not be disregarded in the explanation of contract choice.
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Bibliographic InfoArticle provided by Humboldt-Universitaet zu Berlin, Department for Agricultural Economics in its journal German Journal of Agricultural Economics.
Volume (Year): 54 (2005)
Issue (Month): 6 ()
institutions; transaction costs; contract choice; Poland; land market; Institutional and Behavioral Economics; Land Economics/Use;
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- Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
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