Understanding efficiency of agrarian organisation
MPRA Paper from University Library of Munich, Germany
In this paper we incorporate achievements of interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences) into analysis of agrarian organizations and suggest a framework for evaluating efficiency of different governing structures in agriculture. This new approach includes: study of farm and other agrarian organizations as a governing rather than production structure; assessment of comparative efficiency of alternative (market, contract, internal, hybrid) modes of governance; analysis of level of transaction costs and their institutional, behavioral (agents preferences, bounded rationality, tendency for opportunism), dimensional (frequency, uncertainty, assets specificity, and appropriability of transactions), and technological factors; determination of effective horizontal and vertical boundaries of farms, and other agrarian organizations; the specification of the economic role of the government and the effective forms of public interventions in agrarian sector. The paper provides new effective tools for improvement of agrarian public policies, farming and business strategies, and academic analysis.
Keywords: agrarian governance; efficiency of farms and agrarian organizations; agrarian policies; transaction costs; new institutional and transaction costs economics (search for similar items in EconPapers)
JEL-codes: D21 D23 L14 L22 O13 O17 Q12 Q13 Q18 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr
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Journal Article: Understanding Efficiency of Agrarian Organisation (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:19477
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