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A New Solution to the Puzzle of Fifty-Fifty Split in Sharecropping

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  • Jiancai Pi

Abstract

This paper mainly discusses the puzzle of fifty-fifty split in sharecropping through an improved principal-agent moral hazard framework. Greatly different from the existing literature, this paper finds a new solution to the puzzle of fifty-fifty split in sharecropping. Equal division between the landowner and the tenant regardless of the land’s fertility is incentive compatible, and at the same time the landowner could lease out more fertile land to the relational tenant to improve his utility by using the right of priority. Although fifty-fifty split in sharecropping happens to be fair and comes to be taken for granted as a norm, it is an efficient contractual arrangement in essence.

Suggested Citation

  • Jiancai Pi, 2013. "A New Solution to the Puzzle of Fifty-Fifty Split in Sharecropping," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 26(2), pages 141-152, January.
    • Handle: RePEc:taf:reroxx:v:26:y:2013:i:2:p:141-152
    DOI: 10.1080/1331677X.2013.11517612
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    Cited by:

    1. Jiancai PI, 2013. "An organizational economics approach to the existence of sharecropping," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 59(11), pages 537-541.

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