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For Better or Worse: Share Tenancy as Partnership

Author

Listed:
  • DeWeaver Mark

    (Kogod School of Business, 33845 American University , Washington DC, USA)

  • Roumasset James

    (Department of Economics, University of Hawai’i at Manoa, Honolulu, HI, USA)

Abstract

We extend Cheung’s (Cheung, N. S. 1969. The Theory of Share Tenancy. Chicago: University of Chicago Press.) analysis of the consequences of risk and transaction costs for agricultural contract choice by considering the potential for land abuse on the part of the tenant in a dynamic context where the land-abuse decision is linked to the tenant’s decision to renew the contract. By offering appropriate share contracts, landlords can incentivize contract renewal, thereby both lowering the incentive for land abuse and preserving the tenant’s land-specific human capital. In our model, tenants decide each period whether to terminate their contracts and abuse landlord-owned assets based on prior and updated beliefs about the likelihood of bad seasons. Share contracts are shown to be more likely than lease contracts to survive one or more bad harvests.

Suggested Citation

  • DeWeaver Mark & Roumasset James, 2025. "For Better or Worse: Share Tenancy as Partnership," Man and the Economy, De Gruyter, vol. 12(1), pages 1-20.
    • Handle: RePEc:bpj:maneco:v:12:y:2025:i:1:p:1-20:n:1001
    DOI: 10.1515/me-2024-0001
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    Keywords

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    JEL classification:

    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • J43 - Labor and Demographic Economics - - Particular Labor Markets - - - Agricultural Labor Markets
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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