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

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

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.

Suggested Citation

  • Moss, Leeann E. & Barry, Peter J. & Schnitkey, Gary D. & Westgren, Randall E., 2001. "A Transaction Cost Economics And Property Rights Theory Approach To Farmland Lease Preferences," 2001 Annual meeting, August 5-8, Chicago, IL 20537, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea01:20537
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    References listed on IDEAS

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    1. 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.
    2. 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. 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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    Keywords

    Land Economics/Use;

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