Balancing Grower Protection Against Agency Concerns: An Economic Analysis of Contract Termination Damages
Using a dynamic principal-agent model, we analyze termination damages that protect growers from contract termination or non-renewal. We show that government imposed breach damages can be distortionary and may not necessarily lead to increased grower welfare.
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- Nisvan Erkal, 2003. "Buyer-Supplier Interaction, Asset Specificity, And Product Choice," Department of Economics - Working Papers Series 885, The University of Melbourne.
- Theofanis Tsoulouhas & Tomislav Vukina, 2001. "Regulating Broiler Contracts: Tournaments Versus Fixed Performance Standards," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 1062-1073.
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- S. Andrew Starbird, 2005. "Moral Hazard, Inspection Policy, and Food Safety," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(1), pages 15-27. Full references (including those not matched with items on IDEAS)
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