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Wine Brokers as Independent Experts


  • Fares M'hand

    (INRA (AGIR) and University of Paris I)


This paper aims to show that an institutional arrangement such as brokerage is an efficient coordination mechanism to mitigate the contractual hazards in the relationship between merchants and wine growers. We explain its efficiency by considering brokers as independent experts that can help merchants to monitor the growers' wine-making process. More precisely, when the merchant cannot observe the grower's production effort and finds it costly to commit to a credible monitoring of the wine quality process, it can be efficient to delegate the monitoring task to the broker. Thus, delegation to a third party has a commitment effect.

Suggested Citation

  • Fares M'hand, 2009. "Wine Brokers as Independent Experts," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 7(1), pages 1-19, September.
  • Handle: RePEc:bpj:bjafio:v:7:y:2009:i:1:n:7

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    References listed on IDEAS

    1. Xiaodong Du & David A. Hennessy & William M. Edwards, 2007. "Determinants of Iowa Cropland Cash Rental Rates: Testing Ricardian Rent Theory," Center for Agricultural and Rural Development (CARD) Publications 07-wp454, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    2. Sergio H. Lence & Ashok K. Mishra, 2003. "The Impacts of Different Farm Programs on Cash Rents," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 753-761.
    3. Yoder, Jonathan & Hossain, Ishrat & Epplin, Francis & Doye, Damona, 2008. "Contract duration and the division of labor in agricultural land leases," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 714-733, March.
    4. Lyubov A. Kurkalova & Christopher Burkart & Silvia Secchi, 2004. "Cropland Cash Rental Rates in the Upper Mississippi River Basin," Center for Agricultural and Rural Development (CARD) Publications 04-tr47, Center for Agricultural and Rural Development (CARD) at Iowa State University.
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