Asset Ownership and Incentives in Agricultural Production

  title={Asset Ownership and Incentives in Agricultural Production},
  author={BRENT HUETH}
We study the optimal allocation of land and physical asset ownership between a farmer who works with land and assets directly, and an intermediary who sells the farmer’s output in some downstream market. The farmer can either work as an “employee” of the intermediary (intermediary owns the land and assets), or as an “independent producer” (farmer owns the land and assets). In both cases, the buyer procures output from the farmer with an optimal incentive contract. Independent production is… CONTINUE READING


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