Sharecropping or tenancy occupies a central place in agricultural economics. It is a puzzle. How could it be a source of efficient production when half of the produce goes to the land-lord and half remains with the tenant. Tenant equates half production with his marginal productivity and thus applies less labour and other inputs to agriculture than in owner cultivation. This puzzle remains unsolved for more than three hundred years. Many notable economists ventured to solve this puzzle and as a result innumerable theories came into being. This book has compiled them briefly to facilitate students’ ready reading than going to several journals and books. It will be of great help to students of agricultural economics and researchers. The author’s own model is of particular interest.
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