On Share Contracts and Screening

@inproceedings{Allen1982OnSC,
  title={On Share Contracts and Screening},
  author={Franklin Allen},
  year={1982}
}
It has been suggested by Hallagan (1978) and Newbery and Stiglitz (1979) that the coexistence of rent, wage, and share contracts generates information on the abilities of tenants which allows landlords to allocate resources more efficiently. It is argued here that despite the asymmetric information in their models, it is possible to achieve an efficient allocation of resources without the use of share contracts, by having tenants organize production. An alternative model is then given where… CONTINUE READING

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