Implications of Agency Theory for Optimal Land Tenure Contracts

Huffman, Wallace E.; Just, Richard E.

Economic Development and Cultural Change Vol. 52 (April 2004): 617-643.

Explores landowner-tenant contracts in land tenure in agriculture. Inefficiency of share tenancy relative to owner cultivation; Introduction of principal-agent models; Influence of monitoring in studying optimal landowner-tenant risk sharing; Need to study adequate tenant incentives