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The Choice of Tenancy Contract

In: The Balance between Industry and Agriculture in Economic Development

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Abstract

As the textbooks tell us, when there is a complete set of perfectly competitive markets, including those for contingent commodities, it does not matter whether capital hires labour or labour hires capital. This indeterminacy denies any significance to the question of who actually organises production. Moreover, there is no room for diversity of contracts. For prices convey all relevant information and individuals can buy or sell as much of each contingent commodity as they please, taking prices as parametrically given.

Suggested Citation

  • Clive Bell, 1989. "The Choice of Tenancy Contract," International Economic Association Series, in: Irma Adelman & Sylvia Lane (ed.), The Balance between Industry and Agriculture in Economic Development, chapter 9, pages 161-178, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-10268-6_11
    DOI: 10.1007/978-1-349-10268-6_11
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    Cited by:

    1. Key, Nigel & Runsten, David, 1999. "Contract Farming, Smallholders, and Rural Development in Latin America: The Organization of Agroprocessing Firms and the Scale of Outgrower Production," World Development, Elsevier, vol. 27(2), pages 381-401, February.
    2. Hatlebakk, Magnus, 2002. "Triadic Power Relations with Production, External Markets and Multiple Agents," Working Papers 02-18, Cornell University, Center for Analytic Economics.
    3. John Quiggin & Robert G Chambers, 2009. "Bargaining Power and Efficiency in Insurance Contracts," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 34(1), pages 47-73, June.
    4. John K. Horowitz & Richard E. Just & Sinaia Netanyahu, 1996. "Potential Benefits and Limitations of Game Theory in Agricultural Economics," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 753-760.
    5. Rosenzweig, Mark R., 1987. "Labor Markets in Low Income Countries: Distortions, Mobility and Migration," Bulletins 7506, University of Minnesota, Economic Development Center.
    6. Faruqee, Rashid & Carey, Kevin, 1997. "Research on land markets in South Asia : what have we learned?," Policy Research Working Paper Series 1754, The World Bank.

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