STATIC AND DYNAMIC EFFICIENCY OF POOLED BROILER CONTRACTS: RELATIVE-PERFORMANCE CONTRACTS VS. FIXED-PERFORMANCE CONTRACTS
Yanguo Wang and
No 20406, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
With the broiler industry as a backdrop, this paper develops theoretical models to compare optimal incentives of pooled relative-performance and fixed-performance contracts in static and dynamic models that account for both adverse selection and moral hazard. In spite of some growers' complaints about the relative-performance contracts used in the broiler industry, model results largely justify the popularity and superiority of relative performance contracts relative to fixed performance contracts
Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20406
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