Understanding Production Contracts: Testing An Agency Theory Model
Production contracts are increasingly important in American agriculture. Unfortunately, little is known about the fundamental forces governing their adoption and design. In order to better-understand the underlying incentives, we construct and test an agency-theoretic model of broiler production contracts. We discuss the analysis' implications for industry participants and government policy.
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- Hermalin, Benjamin E. & Wallace, Nancy E., 1992.
"The Determinants of Efficiency and Solvency in Savings and Loans,"
Department of Economics, Working Paper Series
qt1nj556zf, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Benjamin E. Hermalin & Nancy E. Wallace, 1994. "The Determinants of Efficiency and Solvency in Savings and Loans," RAND Journal of Economics, The RAND Corporation, vol. 25(3), pages 361-381, Autumn.
- Benjamin E. Hermalin and Nancy E. Wallace., 1992. "The Determinants of Efficiency and Solvency in Savings and Loans," Economics Working Papers 92-195, University of California at Berkeley.
- Knoeber, Charles R & Thurman, Walter N, 1994. "Testing the Theory of Tournaments: An Empirical Analysis of Broiler Production," Journal of Labor Economics, University of Chicago Press, vol. 12(2), pages 155-79, April.
- Tauer, Loren W., 1994. "Do New York Dairy Farmers Maximize Profits?," Staff Papers 121318, Cornell University, Department of Applied Economics and Management.
- Tiffin, Richard & Renwick, Alan, 1996. "Estimates of Production Response in the UK Cereal Sector Using Nonparametric Methods," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 23(2), pages 179-94.
- Knoeber, Charles R, 1989. "A Real Game of Chicken: Contracts, Tournaments, and the Production of Broilers," Journal of Law, Economics and Organization, Oxford University Press, vol. 5(2), pages 271-92, Fall.
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