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Tenurial Arrangements Notes

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How do tenurial arrangements affect agricultural production?
Ray talks about two different types of productivity; total factor productivity (do small firms have a production function that lies 'beyond' that of large firms?) and 'productivity in the sense of market efficiency'1 (do the values of the marginal product of all inputs equal true marginal costs?). Some tenurial agreements are more 'productive' in the sense of the first definition, and some are more 'productive' in the sense of the second definition. I will begin by discussing some of the advantages and disadvantages of various types of tenurial agreements in terms of agricultural productivity. Then I will discuss a number of models followed by some of the conclusions from the empirical evidence on the matter. I will begin by comparing two of the main tenurial agreements used; fixed rent and sharecropping. Rent can be shown to follow the following equation: R = αY + F
α = share of the crop to the landlord Y = agricultural output F = fixed rent R = rent If α = 0 and F > 0 the tenurial arrangement of 'fixed rent' will occur. If 0 'Development Economics' Ray 1998 2 'Development Economics' Ray 1998 3 'The Economic Theory of Agrarian Institutions' Bardhan 1989 4 'The Economic Theory of Agrarian Institutions' Bardhan 1989 5 'The Economic Theory of Agrarian Institutions' Bardhan 1989 6 'The Economic Theory of Agrarian Institutions' Bardhan 1989 7 'Development Economics' Ray 1998 8 'Development Economics' Ray 1998 9 'Development Economics' Ray 1998

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