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On Share Contracts and Screening

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Author Info

  • Franklin Allen

Abstract

It has been suggested by Hallagan (1978) and Newbery and Stiglitz (1979) that the coexistence of rent, wage, and share contracts generates information on the abilities of tenants which allows landlords to allocate resources more efficiently. It is argued here that despite the asymmetric information in their models, it is possible to achieve an efficient allocation of resources without the use of share contracts, by having tenants organize production. An alternative model is then given where efficiency cannot be achieved in this way because the quality of land as well as the ability of tenants is unobservable. In this case the use of sets of wage and share contracts may lead to an efficient outcome.

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Bibliographic Info

Article provided by The RAND Corporation in its journal Bell Journal of Economics.

Volume (Year): 13 (1982)
Issue (Month): 2 (Autumn)
Pages: 541-547

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Handle: RePEc:rje:bellje:v:13:y:1982:i:autumn:p:541-547

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Cited by:
  1. Juliano Junqueira Assunção, 2005. "Non-agricultural land use and land reform: theory and evidence from Brazil," Textos para discussão 496, Department of Economics PUC-Rio (Brazil).
  2. Juliano Junqueira Assunção & Humberto Moreira, 2005. "Land taxes in a Latin American context," Textos para discussão 497, Department of Economics PUC-Rio (Brazil).
  3. Wendyam Ulrich Wilfried Zombre & Emmanuelle Bouquet & Jean-Philippe Colin, 2013. "Contraintes de financement et choix contractuel sur le marché du faire-valoir indirect à Madagascar," Working Papers 226293, Institut National de la Recherche Agronomique, France.
  4. Eugene Canjels & Ute Volz, 2001. "Share Contracts and Unobserved Ability," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2001-03, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
  5. Juliano J. Assunção, 2008. "Rural Organization and Land Reform in Brazil: The Role of Nonagricultural Benefits of Landholding," Economic Development and Cultural Change, University of Chicago Press, vol. 56, pages 851-870.

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