MIT Press. Used - Good. Used book that is in clean, average condition without any missing pages. MIT Press ISBN 0262511851 9780262511858 [US]

Paperback / softback. New. A theoretical and empirical study of agricultural contracts and organization based on the transaction cost framework. ISBN 0262511851 9780262511858 [GB]

The MIT Press. New. Special order direct from the distributor The MIT Press ISBN 0262511851 9780262511858 [CA]

ISBN10: 0262511851, ISBN13: 9780262511858, [publisher: Mit Pr] Softcover 258 pages. 8.75x6.50x0.75 inches. In Stock.
[Exeter, United Kingdom] [Publication Year: 2004]

MIT Press 9/7/2004 12: 00: 00 AM Softcover PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.

ISBN10: 0262511851, ISBN13: 9780262511858, [publisher: MIT Press] Softcover nach der Bestellung gedruckt Neuware - Printed after ordering - 'The Nature of the Farm' is a theoretical and empirical study of contracts and organization in agriculture based on the transaction cost framework. Transaction costs are important in agriculture because nature (for example, seasonality, weather, pests) plays such a critical role in determining output and limiting the ability of farmers to specialize. The book develops specific models and tests the implications of those models against data sets from across North American agriculture, as well as against historical case studies such as eighteenth-century European land contracts and the late nineteenth-century Bonanza farms in the United States.The book is organized in three parts. Part I examines the classic question of what determines the optimal choice between fixed rent and cropshare arrangements, concluding that it is determined by a trade-off between incentives to overuse rented land and incentives to underreport shared output. Part II tests several predictions derived from a standard risk-sharing model of contracts and finds little evidence that risk sharing is important in contract choice. Part III extends the transaction costs analysis to broader organizational issues. It introduces seasonality and timeliness costs as forces influencing the gains from specialization and the costs of contracting, and finds that ...