PDF Ebook The Nature of the Farm: Contracts, Risk, and Organization in Agriculture (The MIT Press), by Douglas W. Allen
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The Nature of the Farm: Contracts, Risk, and Organization in Agriculture (The MIT Press), by Douglas W. Allen
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Review
A coherent and largely persuasive case for...the transaction cost approach to farm organization over the principal-agent paradigm.―Journal of Economics
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Review
The Nature of the Farm is a superb application of the theory of incentives to the organizational features of agriculture, including the still-popular practice of sharecropping. Allen and Lueck measure their theories of sharecropping against the evidence more carefully and in more detail than previous authors. In so doing, they demonstrate persuasively that contractual arrangements between farmers and landowners are explained not by the traditional theory of risk-sharing but purely by incentives and enforcement considerations. This is an important contribution to agricultural economics and to the economics of organizations.―Ralph A. Winter, Faculty of Commerce and Business Administration, University of British ColumbiaThis book is a perfect example of good economics in which theory and empirical analysis mutually benefit each other and both are grounded in a deep understanding of real practices and institutions. The work is highly original and the scholarship sound.―Benito Arrunada, Professor of Business Organization, Pompeu Fabra University, Barcelona
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Product details
Series: The MIT Press
Paperback: 266 pages
Publisher: The MIT Press (August 20, 2004)
Language: English
ISBN-10: 0262511851
ISBN-13: 978-0262511858
Product Dimensions:
7 x 0.6 x 9 inches
Shipping Weight: 13.6 ounces (View shipping rates and policies)
Average Customer Review:
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Amazon Best Sellers Rank:
#1,009,586 in Books (See Top 100 in Books)
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