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• W1965062357 abstract "Introducing concerns about land fertility for landlords in a Principal–Agent model of sharecropping with moral hazard, we show that the optimal contract under limited commitment reflects a trade-off between production and land quality maintenance. Using data from the Philippines, a model where the leasing out and contract choices are simultaneous is estimated and avoids the selectivity bias of observed contracts. Landlords prefer to use more incentive contracts for more fertile plots and less incentive ones when crop choices induce land overuse. Empirical tests reject the model of pure risk sharing in production and show the interest of taking land quality maintenance into account." @default.
• W1965062357 created "2016-06-24" @default.
• W1965062357 creator A5047599158 @default.
• W1965062357 date "2002-06-01" @default.
• W1965062357 modified "2023-10-02" @default.
• W1965062357 title "Moral hazard, land fertility and sharecropping in a rural area of the Philippines" @default.
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• W1965062357 doi "https://doi.org/10.1016/s0304-3878(02)00005-6" @default.
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