IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v86y2010iii1p467-492.html
   My bibliography  Save this article

Closing the Deal: Principals, Agents, and Subagents in New Zealand Land Reform

Author

Listed:
  • Ann L. Brower
  • Philip Meguire
  • Adrian Monks

Abstract

This paper uses bargaining dynamics, administrative politics, and agency theory to examine financial outcomes from New Zealand land reform. Results are inconsistent with payments arising from a bargain in which both the Crown and lessee advocate to their full potential, and are instead consistent with the Crown backing down to lessees’ desires for a generous deal. This back-down stems either from "bureaucratic coping," or from the addition of a bureaucratic middleman between the Crown principal and its negotiator subagent, exacerbating the principal-agent problem.

Suggested Citation

  • Ann L. Brower & Philip Meguire & Adrian Monks, 2010. "Closing the Deal: Principals, Agents, and Subagents in New Zealand Land Reform," Land Economics, University of Wisconsin Press, vol. 86(3).
    • Handle: RePEc:uwp:landec:v:86:y:2010:iii:1:p467-492
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/86/3/467
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Richard A. Easterlin, 1992. "Analysis," Challenge, Taylor & Francis Journals, vol. 35(4), pages 51-53, July.
    2. Spiller, Pablo T, 1990. "Politicians, Interest Groups, and Regulators: A Multiple-Principals Agency Theory of Regulation, or "Let Them Be Bribed."," Journal of Law and Economics, University of Chicago Press, vol. 33(1), pages 65-101, April.
    3. Martin Ricketts, . "The Economics of Business Enterprise," Books, Edward Elgar Publishing, number 3121.
    4. Macho-Stadler, Ines & Perez-Castrillo, J. David, 2001. "An Introduction to the Economics of Information: Incentives and Contracts," OUP Catalogue, Oxford University Press, edition 2, number 9780199243273.
    5. Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753, September.
    6. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
    7. McCubbins, Mathew D & Noll, Roger G & Weingast, Barry R, 1987. "Administrative Procedures as Instruments of Political Control," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 3(2), pages 243-277, Fall.
    8. Martin Ricketts, 2002. "The Economics of Business Enterprise," Books, Edward Elgar Publishing, number 2215.
    9. W. Kip Viscusi & Joseph E. Harrington & John M. Vernon, 2005. "Economics of Regulation and Antitrust, 4th Edition," MIT Press Books, The MIT Press, edition 4, volume 1, number 026222075x, April.
    10. Miceli, Thomas J., 1997. "Economics of the Law: Torts, Contracts, Property, Litigation," OUP Catalogue, Oxford University Press, number 9780195103908.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lehr, William & Sicker, Douglas, 2017. "Communications Act 2021," 28th European Regional ITS Conference, Passau 2017 169478, International Telecommunications Society (ITS).
    2. Alshamy, Yahya & Coyne, Christopher J. & Goodman, Nathan, 2023. "Noxious government markets: Evidence from the international arms trade," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 87-99.
    3. Carlos Scartascini & Mariano Tommasi & Ernesto Stein, 2010. "Veto Players and Policy Trade-Offs- An Intertemporal Approach to Study the Effects of Political Institutions on Policy," Research Department Publications 4660, Inter-American Development Bank, Research Department.
    4. Eric Ip, 2014. "The judicial review of legislation in the United Kingdom: a public choice analysis," European Journal of Law and Economics, Springer, vol. 37(2), pages 221-247, April.
    5. Allan M. Feldman & Ram Singh, 2009. "Comparative Vigilance," American Law and Economics Review, American Law and Economics Association, vol. 11(1), pages 134-161.
    6. Bruno Deffains & Marie Obidzinski, 2009. "Real Options Theory for Law Makers," Recherches économiques de Louvain, De Boeck Université, vol. 75(1), pages 93-117.
    7. Fabio Padovano & Ilaria Petrarca, 2013. "When and how politicians take ‘scandalous’ decisions?," Constitutional Political Economy, Springer, vol. 24(4), pages 336-351, December.
    8. Jürgen Wandel, 2011. "Business groups and competition in post-Soviet transition economies: The case of Russian “agroholdings”," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(4), pages 403-450, December.
    9. Feldman Allan M. & Singh Ram, 2011. "A Simple Guide to Comparative Vigilance," Asian Journal of Law and Economics, De Gruyter, vol. 2(3), pages 1-24, October.
    10. John Groenewegen, 2011. "Evolution and Design of Institutions Supporting Liberalization," Chapters, in: Matthias Finger & Rolf W. Künneke (ed.), International Handbook of Network Industries, chapter 5, Edward Elgar Publishing.
    11. Pagliacci Mario G.R. & Proietti Stefania, 2018. "Knowledge Society Asks for New Practices for Entrepreneurial and Managerial Training," Journal of Intercultural Management, Sciendo, vol. 10(3), pages 47-59, September.
    12. Azid, Toseef & Asutay, Mehmet & Burki, Umar, 2007. "Theory Of The Firm, Management And Stakeholders: An Islamic Perspective," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 15, pages 1-30.
    13. Szymon Kaczmarek, 2017. "Rethinking board diversity with the behavioural theory of corporate governance: opportunities and challenges for advances in theorising," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 21(4), pages 879-906, December.
    14. Ellen Seljan, 2014. "The limits of tax and expenditure limits: TEL implementation as a principal-agent problem," Public Choice, Springer, vol. 159(3), pages 485-501, June.
    15. Franco OSCULATI & Domenico NICOLÒ & Carlo VERMIGLIO, 2011. "Corporatization in Italian local governments: conceptual framework, issues of financial reporting and empirical evidences," Departmental Working Papers 2011-34, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    16. Peerlings, Jack H.M. & Polman, Nico B.P. & Dries, Liesbeth & Slangen, Louis H.G., 2012. "Resilience of European farms with and without the CAP," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126696, International Association of Agricultural Economists.
    17. Wandel, Jürgen, 2011. "Integrierte Strukturen im Agrar- und Ernährungssektor Russlands: Entstehungsgründe, Funktionsweise, Entwicklungsperspektiven und volkswirtschaftliche Auswirkungen. Band I und II," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 63, number 63.
    18. Marco Sorge, 2015. "Lobbying (strategically appointed) bureaucrats," Constitutional Political Economy, Springer, vol. 26(2), pages 171-189, June.
    19. Díaz-Chao, Ángel & Sainz-González, Jorge & Torrent-Sellens, Joan, 2016. "The competitiveness of small network-firm: A practical tool," Journal of Business Research, Elsevier, vol. 69(5), pages 1769-1774.
    20. Wirl, Franz, 2008. "Energy conservation, expectations and uncertainty," Energy Economics, Elsevier, vol. 30(4), pages 1957-1972, July.

    More about this item

    JEL classification:

    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:86:y:2010:iii:1:p467-492. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://le.uwpress.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.