The Insight and the Legacy of the Theory of Share Tenancy

by Steven Cheung, first published as a PhD thesis 50 years ago, was an important watershed study on the economics of contracts. It contained the first formal demonstration of the Coase Theorem, linked the concepts of property rights and transaction costs, laid early foundations for the future econom...

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Bibliographic Details
Published in:Man and the economy Vol. 5; no. 1; pp. 350 - 361
Main Authors: Allen, Douglas W., Lueck, Dean
Format: Journal Article
Language:English
Published: Berlin De Gruyter 01.01.2018
Walter de Gruyter GmbH
Subjects:
Cheung, Steven
coase theorem
Contracts
Earnings
Economic theory
Economics
Land tenure
Private property
Property rights
Rentals
Transaction costs
China
ISSN:2196-9647, 2196-9639, 2196-9647
Online Access:Get full text
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Summary:by Steven Cheung, first published as a PhD thesis 50 years ago, was an important watershed study on the economics of contracts. It contained the first formal demonstration of the Coase Theorem, linked the concepts of property rights and transaction costs, laid early foundations for the future economics of contracts, and can even lay claim to originating the idea of a risk/incentive tradeoff in contract design. This essay examines Cheung's key contributions in , and considers reasons for its somewhat limited legacy outside of China.
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ISSN:2196-9647
2196-9639
2196-9647
DOI:10.1515/me-2018-0005