TESTING FOR COOPERATIVE BEHAVIOR: AN EMPIRICAL STUDY OF LAND TENURE CONTRACTS IN TEXAS
Resource information
Date of publication
December 1998
Resource Language
ISBN / Resource ID
AGRIS:US2012211485
Share contracts under information asymmetry often involve input application and risk sharing inefficiency. These difficulties are nullified under full information which can be approximated in repeated contracts. We give evidence of cooperation in repeated contracts, indicating the existence of full information efficiency and efficient resource use, despite underlying information asymmetry.
