摘要：Non-cooperative behavior in land lease contracts under production uncertainty andinformation asymmetry results in input application and wealth distribution inefficiencieswhich can be mitigated by self-enforcing, long-term cooperative contracts. This paperinvestigates cooperative and non-cooperative behavior in land lease contract data from thesouthern high plains of Texas by developing and analyzing an empirical model of privateinformation sharing. The paper also obtains empirical evidence supporting the classicalconclusion that information asymmetry can be reduced and cooperation promoted inrepeated contracts.
