Abstract
The purpose of this paper is to explore how sharecropping contracts are
chosen over fixed-rent contracts. There are two concerning issues. First, theoretical
explanation has been criticized for not providing a satisfactory answer to the
question as to why share contracts are chosen. Second, among the existing
empirical studies, there are great controversies about the impact of variance of
output. Inspired by the latest insights from (Cheung, S. N. S. 2014. Economic
Explanation. Hong Kong: Arcadia Press.), this paper not only provides an explanation for the choice of share contract that is suitable for empirical testing, but also
solves the puzzle over variance of output.
Original language | English |
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Pages (from-to) | 79-97 |
Journal | Man and the Economy |
Volume | 8 |
Issue number | 1 |
DOIs | |
Publication status | Published - 2021 |