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The Choice of Agrarian Contracts in Early Renaissance Tuscany: Risk Sharing, Moral Hazard, or Capital Market Imperfections?

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  • Ackerberg, Daniel A.
  • Botticini, Maristella

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  • Ackerberg, Daniel A. & Botticini, Maristella, 2000. "The Choice of Agrarian Contracts in Early Renaissance Tuscany: Risk Sharing, Moral Hazard, or Capital Market Imperfections?," Explorations in Economic History, Elsevier, vol. 37(3), pages 241-257, July.
    • Handle: RePEc:eee:exehis:v:37:y:2000:i:3:p:241-257
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    5. Otsuka, Keijiro & Chuma, Hiroyuki & Hayami, Yujiro, 1992. "Land and Labor Contracts in Agrarian Economies: Theories and Facts," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 1965-2018, December.
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    7. Botticini, Maristella, 2000. "A Tale of “Benevolent†Governments: Private Credit Markets, Public Finance, and the Role of Jewish Lenders in Medieval and Renaissance Italy," The Journal of Economic History, Cambridge University Press, vol. 60(1), pages 164-189, March.
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    9. Allen, Douglas W & Lueck, Dean, 1995. "Risk Preferences and the Economics of Contracts," American Economic Review, American Economic Association, vol. 85(2), pages 447-451, May.
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    16. 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.
    17. Alston, Lee J & Datta, Samar K & Nugent, Jeffrey B, 1984. "Tenancy Choice in a Competitive Framework with Transactions Costs," Journal of Political Economy, University of Chicago Press, vol. 92(6), pages 1121-1133, December.
    18. Shaban, Radwan Ali, 1987. "Testing between Competing Models of Sharecropping," Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 893-920, October.
    19. Eswaran, Mukesh & Kotwal, Ashok, 1985. "A Theory of Contractual Structure in Agriculture," American Economic Review, American Economic Association, vol. 75(3), pages 352-367, June.
    20. Holmstrom, Bengt & Milgrom, Paul, 1991. "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 7(0), pages 24-52, Special I.
    21. Luporini, Annalisa & Parigi, Bruno, 1996. "Multi-Task Sharecropping Contracts: The Italian Mezzadria," Economica, London School of Economics and Political Science, vol. 63(251), pages 445-457, August.
    22. Higgs, Robert, 1974. "Patterns of Farm Rental in the Georgia Cotton Belt, 1880–1900," The Journal of Economic History, Cambridge University Press, vol. 34(2), pages 468-482, June.
    23. Cheung, Steven N S, 1969. "Transaction Costs, Risk Aversion, and the Choice of Contractual Arrangements," Journal of Law and Economics, University of Chicago Press, vol. 12(1), pages 23-42, April.
    24. Allen, Douglas W & Lueck, Dean, 1999. "The Role of Risk in Contract Choice," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(3), pages 704-736, October.
    25. Pudney, Stephen & Galassi, Francesco L & Mealli, Fabrizia, 1998. "An Econometric Model of Farm Tenures in Fifteenth-Century Florence," Economica, London School of Economics and Political Science, vol. 65(260), pages 535-556, November.
    26. Higgs, Robert, 1973. "Race, Tenure, and Resource Allocation in Southern Agriculture, 1910," The Journal of Economic History, Cambridge University Press, vol. 33(1), pages 149-169, March.
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    Cited by:

    1. Luis H. B. Braido, 2003. "Insurance and Incentives in Sharecropping," CESifo Working Paper Series 1098, CESifo.
    2. Mayshar, Joram & Moav, Omer & Neeman, Zvika, 2011. "Transparency, Appropriability and the Early State," CEPR Discussion Papers 8548, C.E.P.R. Discussion Papers.
    3. Yutaka ARIMOTO & Tetsuji OKAZAKI & Masaki NAKABAYASHI, 2010. "Agrarian Land Tenancy In Prewar Japan: Contract Choice And Implications On Productivity," The Developing Economies, Institute of Developing Economies, vol. 48(3), pages 293-318, September.
    4. Mayshar, Joram & Moav, Omer & Neeman, Zvika, 2017. "Geography, Transparency, and Institutions," American Political Science Review, Cambridge University Press, vol. 111(3), pages 622-636, August.
    5. J. Mark Ramseyer, 2015. "The Fable of Land Reform: Leases and Credit Markets in Occupied Japan," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(4), pages 934-957, October.
    6. Hongyun Han & Hanning Li, 2018. "The Distribution of Residual Controls and Risk Sharing: A Case Study of Farmland Transfer in China," Sustainability, MDPI, vol. 10(6), pages 1-20, June.
    7. Yueming Cao & Yunli Bai & Linxiu Zhang, 2022. "Plot Size, Adjacency, and Farmland Rental Contract Choice," Land, MDPI, vol. 11(4), pages 1-21, April.
    8. Carmona, Juan & Simpson, James, 2021. "Landlords and sharecroppers in wine producing regions: Beaujolais, Catalonia and Tuscany, 1800-1940," IFCS - Working Papers in Economic History.WH 32582, Universidad Carlos III de Madrid. Instituto Figuerola.
    9. He, Yiming & Collins, Alan R., 2021. "The effect of information structure on farmland contractual choice: toward a revised theory of share tenancy with new evidence from Guangdong, China," International Review of Law and Economics, Elsevier, vol. 65(C).
    10. César Salazar Espinoza, 2015. "Share Contract Choices and Economic Performance: Empirical Evidence from the Artisanal Fisheries Sector in Chile," Marine Resource Economics, University of Chicago Press, vol. 30(1), pages 71-95.
    11. Kaniska Dam & Daniel Ruiz Pérez, 2011. "On the Existence of Sharecropping," Working papers DTE 502, CIDE, División de Economía.
    12. Carmona, Juan & Simpson, James, 2007. "Why sharecropping? : explaining its presence and absence in Europe's vineyards, 1750-1950," IFCS - Working Papers in Economic History.WH wp07-11, Universidad Carlos III de Madrid. Instituto Figuerola.
    13. repec:pra:mprapa:56168 is not listed on IDEAS
    14. Dubois, Pierre, 2002. "Moral hazard, land fertility and sharecropping in a rural area of the Philippines," Journal of Development Economics, Elsevier, vol. 68(1), pages 35-64, June.
    15. Jan Luiten van Zanden & Emanuele Felice, 2017. "Benchmarking the Middle Ages. XV century Tuscany in European Perspective," Working Papers 0081, Utrecht University, Centre for Global Economic History.
    16. Roy, Jaideep & Serfes, Konstantinos, 2001. "Intertemporal discounting and tenurial contracts," Journal of Development Economics, Elsevier, vol. 64(2), pages 417-436, April.
    17. Yutaka Arimoto & Tetsuji Okazaki & Masaki Nakabayashi, 2005. "Risk, Transaction Costs, and Geographic Distribution of Share Tenancy: A Case of Pre-War Japan," CARF F-Series CARF-F-024, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    18. Eugene N. White, 2004. "From privatized to government‐administered tax collection: tax farming in eighteenth‐century France," Economic History Review, Economic History Society, vol. 57(4), pages 636-663, November.
    19. van Bavel, Bas, 2016. "The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500," OUP Catalogue, Oxford University Press, number 9780199608133, Decembrie.
    20. Samuel Garrido, 2017. "The fruit of inequality: wine, efficiency, agrarian contracts and property rights in Catalonia (1898-1935)," Documentos de Trabajo (DT-AEHE) 1701, Asociación Española de Historia Económica.
    21. David R Stead, "undated". "Fixed Rent Contracts in English Agriculture, 1750-1850: A Conjecture," Discussion Papers 05/01, Department of Economics, University of York.
    22. Gwendoline Promsopha, 2017. "Are free land arrangement really free? An exploration into land arrangements made by rural-urban migrants in the Northeast of Thailand," Working Papers hal-01565843, HAL.
    23. Gwendoline Promsopha, 2018. "Risk†Coping, Land Tenure And Land Markets: An Overview Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 32(1), pages 176-193, February.

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