Economic framework for studying and assessing agrarian contracts

Bachev, Hrabrin (2024): Economic framework for studying and assessing agrarian contracts.

Abstract

The achievements of the interdisciplinary New Institutional Economics are adapted and a holistic approach to the definition, classification, evaluation, and improvement of contracts and contractual relations is justified. Specificity of the economic study of agrarian contracts is summarized and a "new" approach for economic analysis, evaluation and improvement of agrarian contracts is presented. The later includes: (1) economic definition of agrarian contracts and characterization of their place in the system of agrarian governance as bilateral or multilateral agreements related to agricultural production and services; (2) economic characteristics of the agents participating in the contractual relations (interests, awareness, risk-taking, capability, tendency to opportunism, etc.); (3) economic characteristics of different types of agrarian contracts (for purchase and sale, hire of labor and resources, services, loan, insurance, marketing, coalition, etc.); (4) economic characterization of the agrarian contracting process (technological, transactional, institutional, etc. factors for managerial choice); (5) economic characterization of the outcome of the contractual process and the dominant governance order in the agrarian sphere (rule of law, rule of force, contractual structure, etc.); (6) characterization of the stages for the improvement of agrarian contracts and governance (identification of problems and failures of the market, private contracting, and public modes; needs and forms of new public intervention, etc.); (7) identification of needs and sources of new information for analysis and evaluation of agrarian contracts.

• Item Type: MPRA Paper
• Language: English
• Keywords: agrarian contracts, agents, process, order, transaction costs
• Subjects: K - Law and Economics > K0 - General; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q13 - Agricultural Markets and Marketing ; Cooperatives ; Agribusiness; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q14 - Agricultural Finance; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q15 - Land Ownership and Tenure ; Land Reform ; Land Use ; Irrigation ; Agriculture and Environment; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q1 - Agriculture > Q18 - Agricultural Policy ; Food Policy

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