Theproce,forlan,thereisonlyadifferenceofmodestdegreeintheroleofpricerationingintheshare-rentalmarketandinthecash-rentalmarket.[30]

Inthecourseofhisanalysis,Johnsonhadobtained-andabandoned-acondit,hewrote:

Isitlikelythatatenantoperatingundertheseconditionswillallocatehisresourcesinexactlythesamewaythathewouldifpayingacashrentindependentoftheactualoutput?erpetitiveconditions.[31]

Whynot?Asshowninthelastchapter,theidentityoftheaveragerentunderfixedandsharecontractsexists,inequilibirum,,valuesofnonlandinputsandrentalpercentage,,itissomewhatpuzzlingthatJohnsonalsowrote:

Withashort-termleaserentersareobviouslyawarethatlandlordshavethealte,thetenantmustplantoproduceanaverageoutputperacrethatwillprovidearentalpayment,ifyieldsareaverage,equaltothepossiblecashrent……[32]

Theapparentcontradictionbetweenthisandtheearlierquotationcanperhapsbereconciledasfollows:Inrejectingthetheoreticalidentityoftheaveragerentunderfixedandsharecontracts,,,thetheoreticalidhoughsharerentislessproductivethanfixedrentaccordingtoamodelwit,hecalledfor”anempiricalverification……of[theeffectsof]shareleasesuponresourceallocation.”[33]

[1].Atpageproof,,whereasMarshallwasreluctant.

[2].SeeMarshall,PrinciplesofEconomics（8thed.,1920；London;Macmillan＆Co.,1956）,www.youxs.org.

[3].Ibid.,www.youxs.org,；,,www.youxs.org.

[4].Ibid.,www.youxs.org.

[5].Marshallwasaware,likeotherwritersbeforehim,thatf

[6].Marshall,PrinciplesofEconomics,www.youxs.org.

[7].Ibid.

[8].Higgs,”MetayageinWesternFrance,”TheEconomicJournal（March,1894）,www.youxs.org.

[9].Ibid.,p.

[10].Seeibid.,www.youxs.org.

[11].Marshall,PrinciplesofEconomics,www.youxs.org.

[12].ThoughMarshallwasawarethattherentalpercentagewasnotthesameeverywhere（www.youxs.org）,henotedthatforcustomaryreasonsvariationofit”couldseldombedonewithoutanappearanceofviolence”（www.youxs.org）.Noevidenceof”violence”wasoffered.

ThetheoreticaldifficultyMarshallencounteredasaresultofnotvaryingtherentalpercentagewasmadeevidentwhenhewrote（www.youxs.org）：

If[thelandlord]cannotmodifytheamount[ofcapital],butstillcontroltheamountofthetenantslabour,thenwithcertainshapesoftheproducecurve,thecultivationwillbemoreintensivethanitwouldbeontheEnglishplan[fixedrent]；,butlittlepracticalimportance.

[13].Seechapter2,,however,thatifseveralcropsaregrown,multiplerentalpercentagesmayexistinonesharec,sectionB.

[14].Marshall,PrinciplesofEconomics,www.youxs.org,

[15].Transferabilityofrightsamongindividualownersimpliesexclusivityinuse,httransfers,ghercostoftransaction,butstillmaynotconstituteaYoung,Travels,Maxwelledition,”EditorsNotes.”

,hereferredtoitasaformoflandtenureunder”feudalism.”Butwehaveyettoidentifythepropertyrightconstraintdefining”feudalism.”Georgescu-Roegenalsoemployedthetax-equivalen”EconomicTheoryandAgrarianEconomics,”OxfordEconomicPapers（February,1960）,www.youxs.org.

[16].RainerSchickele,”EffectsofTenureSystemsonAgriculturalEfficiency,”JournalofFarmEconomics（February,1941）,www.youxs.org.

[17].,”EconomicsofFarmLeasingSystems,”JournalofFarmEconomics（August,1947）,www.youxs.org.

[18].Schickele,”EffectsofTenureSystems,”www.youxs.org.

[19].Ibid.,www.youxs.org.

[20].Heady,”FarmLeasingSystems,”www.youxs.org.

[21].Ibid.,www.youxs.org.

[22].CharlesIssawi,”FarmOutputunderFixedRentsandShareTenancy,”LandEconomics（February,1957）,www.youxs.org.

[23].www.youxs.org,”ResourceAllocationunderShareContracts,”JournalofPoliticalEconomy（April,1950）,www.youxs.org.