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Testing For Cooperative Behavior: An Empirical Study Of Land Tenure Contracts In Texas

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  • Dasgupta, Siddhartha
  • Love, H. Alan
  • Knight, Thomas O.
  • Devadoss, Stephen

Abstract

Share contracts under information asymmetry often involve input application and risk sharing inefficiency. These difficulties are nullified under full information which can be approximated in repeated contracts. We give evidence of cooperation in repeated contracts, indicating the existence of full information efficiency and efficient resource use, despite underlying information asymmetry.

Suggested Citation

  • Dasgupta, Siddhartha & Love, H. Alan & Knight, Thomas O. & Devadoss, Stephen, 1998. "Testing For Cooperative Behavior: An Empirical Study Of Land Tenure Contracts In Texas," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20917, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea98:20917
    DOI: 10.22004/ag.econ.20917
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    References listed on IDEAS

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    1. Joseph E. Stiglitz, 1974. "Incentives and Risk Sharing in Sharecropping," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(2), pages 219-255.
    2. Radner, Roy, 1985. "Repeated Principal-Agent Games with Discounting," Econometrica, Econometric Society, vol. 53(5), pages 1173-1198, September.
    3. Lucas, Robert E B, 1979. "Sharing, Monitoring, and Incentives: Marshallian Misallocation Reassessed," Journal of Political Economy, University of Chicago Press, vol. 87(3), pages 501-521, June.
    4. Dasgupta, Siddhartha & Devadoss, Stephen, 1997. "Efficient Land Tenure Contract Under Asymmetric Information," 1997 Annual Meeting, July 13-16, 1997, Reno\ Sparks, Nevada 35821, Western Agricultural Economics Association.
    5. HOLMSTROM, Bengt, 1979. "Moral hazard and observability," LIDAM Reprints CORE 379, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Bengt Holmstrom, 1979. "Moral Hazard and Observability," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 74-91, Spring.
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