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Leasehold estate

About: Leasehold estate is a(n) research topic. Over the lifetime, 1589 publication(s) have been published within this topic receiving 21480 citation(s). The topic is also known as: leasehold & tenancy.
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29 Sep 1989
Abstract: Introduction 1. The property rights model 2. The public domain: rationing by waiting and price controls 3. Contract choice: the tenancy contract 4. Divided ownership 5. The old firm and the new organization 6. The formation of rights 7. Slavery 8. Wealth maximization constraints on property rights 9. Property rights and non-market allocation 10. Additional property rights applications 11. The property rights model: recapitulation References.

1,537 citations

01 Jan 1969

517 citations

Journal ArticleDOI
Abstract: The paper analyzes the effect of agricultural tenancy laws offering security of tenure to tenants and regulating the share of output that is paid as rent on farm productivity. Theoretically, the net impact of tenancy reform is shown to be a combination of two effects: a bargaining power effect and a security of tenure effect. Analysis of evidence on how contracts and productivity changed after a tenancy reform program was implemented in the Indian state of West Bengal in the late 1970s suggests that tenancy reform had a positive effect on agricultural productivity there.

482 citations

Journal ArticleDOI
Abstract: The objectives of this paper are (1) to explain, in an internally consistent manner, the major institutions and customary features of production relations in three agroclimatic subzones of the land-abundant tropics that have simple technology and high transport costs and (2) to provide predictions of how these institutions and features will change in response to increases in population densities and the opening of substance-oriented systems via external migration and interregional or international trade. Production relations are the relations of people to products and factors of production in terms of their rights of ownership and use and the corresponding relationships of people among each other as buyers and sellers, as factor owners and renters, as landlords, tenants, workers, employers, creditors, and debtors. The peculiar institutional and customary features of land-abundant areas that we want to explain in an internally consistent manner include the absence of regular output and labor markets; the nonexistence of a landless labor class; the minimal nature of credit markets and the absence of professional money lenders; the importance of livestock wealth as an insurance substitute in semiarid zones; the existence of livestock tenancy but the absence of tenancy in land; the existence and the insurance function performed by extended families; and the cultivation by extended families of plots in common in some regions but not in others. We also want to be able to predict the changes in these institutions and features that arise when population density grows and/ or when the economy is exposed to external markets.

463 citations

Posted ContentDOI
Abstract: One of the often noted features of less-developed agrarian economies is the existence of interlinkages among the land, labor, credit, and product markets. The landlord is often the supplier of credit; he frequently purchases and markets the output of the tenant farmers, and often sells raw materials and even consumption goods to his tenant farmers. How can this phenomenon be explained? What are the welfare consequences of attempts to restrict these practices, which often seem to constitute restraints on free trade? These are the questions to which this paper is addressed. A general set of arguments applicable to both competitive and noncompetitive environments are presented, to situations where all the terms of the contract are determined in an optimal way as well as to situations where many of the terms are specified institutionally. Section I examines interlinked credit and tenancy contracts; Section II examines interlinked marketing and tenancy contracts; Section III points out the possible interlinking between labor contracts and consumption goods markets; and Section IV presents the different equilibrium frameworks discussed in the paper, such as monopoly, monopsony, competition, and equilibria with surplus labor.

373 citations

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