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A Transation Cost Economics And Property Rights Theory Approach To Farmland Lease Preferences

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  • Moss, Leeann E.
  • Westgren, Randall E.
  • Schnitkey, Gary D.
  • Barry, Peter J.

Abstract

Numerous theoretical approaches to farmland leasing contract choice have been developed with little consistent empirical support, particularly for the Corn Belt. A unique theoretical approach to explaining farmers' lease preferences is presented, using a combination of transaction cost economics and property rights theory. Results demonstrate that both transactional and certain producer characteristics are important motivators of contract choice.
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Suggested Citation

  • Moss, Leeann E. & Westgren, Randall E. & Schnitkey, Gary D. & Barry, Peter J., 2001. "A Transation Cost Economics And Property Rights Theory Approach To Farmland Lease Preferences," 2001 Regional Committee NC-221, October 1-2, 2001, McLean, Virginia 132406, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    • Handle: RePEc:ags:nc2001:132406
    DOI: 10.22004/ag.econ.132406
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    References listed on IDEAS

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    1. Peter J. Barry & LeeAnn M. Moss & Narda L. Sotomayor & Cesar L. Escalante, 2000. "Lease Pricing for Farm Real Estate," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 22(1), pages 2-16.
    2. Douglas W. Allen & Dean Lueck, 1993. "Transaction Costs and the Design of Cropshare Contracts," RAND Journal of Economics, The RAND Corporation, vol. 24(1), pages 78-100, Spring.
    3. Samar K. Datta & Donald J. O'Hara & Jeffrey B. Nugent, 1986. "Agricultural Tenancy in the Presence of Transaction Costs," Land Economics, University of Wisconsin Press, vol. 62(2), pages 145-158.
    4. D.J. Brown & J.H. Atkinson, 1981. "Cash and Share Renting: An Empirical Test of the Link Between Entrepreneurial Ability and Contractual Choice," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 296-299, Spring.
    5. Siddhartha Dasgupta & Thomas O. Knight & H. Alan Love, 1999. "Evolution of Agricultural Land Leasing Models: A Survey of the Literature," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 21(1), pages 148-176.
    6. Kevin J. Boyle & Richard C. Bishop, 1988. "Welfare Measurements Using Contingent Valuation: A Comparison of Techniques," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(1), pages 20-28.
    7. Ralph Bierlen & Lucas D. Parsch, 1996. "Tenant Satisfaction with Land Leases," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 18(3), pages 505-513.
    8. Allen, Douglas & Lueck, Dean, 1992. "Contract Choice in Modern Agriculture: Cash Rent versus Cropshare," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 397-426, October.
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    Cited by:

    1. Gueck, Nicole & Klose, Steven L. & Jones, DeDe & Yates, Jay, 2010. "Examining Share Lease Arrangements for Grain Operations in the Texas Panhandle Under Changing Market Conditions," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2010, pages 1-15.
    2. Christine Léger Léger-Bosch, 2018. "Farmland Tenure and Transaction Costs," Working Papers hal-01775201, HAL.
    3. McCann, Laura & Colby, Bonnie & Easter, K. William & Kasterine, Alexander & Kuperan, K.V., 2005. "Transaction cost measurement for evaluating environmental policies," Ecological Economics, Elsevier, vol. 52(4), pages 527-542, March.

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