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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- 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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- Erkal, Nisvan, 2007.
"Buyer-supplier interaction, asset specificity, and product choice,"
International Journal of Industrial Organization,
Elsevier, vol. 25(5), pages 988-1010, October.
- Nisvan Erkal, 2003. "Buyer-Supplier Interaction, Asset Specificity, And Product Choice," Department of Economics - Working Papers Series 885, The University of Melbourne.
- 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.
- MacDonald, James M. & Perry, Janet E. & Ahearn, Mary Clare & Banker, David E. & Chambers, William & Dimitri, Carolyn & Key, Nigel D. & Nelson, Kenneth E. & Southard, Leland W., 2004. "Contracts, Markets, and Prices: Organizing the Production and Use of Agricultural Commodities," Agricultural Economics Reports 34013, United States Department of Agriculture, Economic Research Service.
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