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The Nature of the Farm: Contracts, Risk, and Organization in Agriculture »

Authors: Douglas W. Allen, Dean Lueck
ISBN-13: 9780262122535, ISBN-10: 0262122537
Format: Hardcover
Publisher: MIT Press
Date Published: January 2003
Edition: (Non-applicable)

Douglas W. Allen is Endowed University Professor in the Department of Economics at Simon Fraser University.

Dean Lueck is Cardon Professor of Agricultural and Resource Economics at the University of Arizona.

A theoretical and empirical study of agricultural contracts and organization based on the transaction cost framework.

	Preface
1	Introduction	1
2	Farming in North America	17
I	Contracts and the Transaction Cost Framework	31
3	The Simplicity of Agricultural Contracts	33
4	Choosing between Cropshare and Cash Rent Contracts	49
5	Sharing Inputs and Outputs	69
II	Risk Sharing as an Alternative Framework	93
6	Risk Sharing and the Choice of Contract	95
7	Ratchet Effects in Agricultural Contracts	121
III	Extending the Framework: Farm Organization	137
8	Ownership versus Contracting for the Control of Assets	139
9	Farm Organization and Vertical Control	167
10	Conclusion	199
	App. A: Data	205
	App. B: Mathematical	219
	Notes	223
	References	243
	Index	255