PROTECTING CONTRACT GROWERS OF BROILER CHICKEN INDUSTRY



10

5. CONCLUSION

In case of the relative payment structure based on the tournaments regulator may be able
to increase the welfare of the growers regulating the average performance standard upward.If
there is budgetary constraint then the regulator may be restricted severely in doing so.

References

BEALES, J.H. III AND T. J. MURIS, "The Foundations of Franchise Regulation: Issues and
Evidence," Journal of Corporate Finance 2 (1995), 157-97.

BRICKLEY, J. A., F. H. DARK AND M. S. WEISBACH, "The Economic Effects of Franchise
Termination Laws," Journal of Law And Economics 33 (1991), 101-32.

FEDERAL REGISTER, Grain Inspection, Packers and Stockyards Administration. “Regulations

Issued under Packers and Stockyards Act: Poultry grower contracts, Scales, Weighing.”9 CFR

Part 201, 62(27)(February 10,1997).

GOODHUE, E. RACHAEL. “ Broiler Production Contracts as a Multi-Agency Problem,” American.

J.of Agricultural Econ. 82 (August 2000), 606-622.

GROSSMAN, S.J. AND O. HART, An Analysis of the Principal-agent Problem, Econometrica

51 (1983), 7-45.

HOLMSTROM, B., "Moral Hazard in Teams," Bell J. of Economics 13 (1982), 324-340.

KNOEBER, C.R., "A Real Game of Chicken: Contracts, Tournaments, and the Production of
Broilers," Journal of Law Economics and Organization 5 (1989), 271-292.

KNOEBER, C.R. AND W.N. THURMAN, ""Don't Count Your Chickens...": Risk and Risk
Shifting in the Broiler Industry," Am. J. of Agricultural Econ. 77 (1995), 486-496.

---------------- “Testing the Theory of Tournaments: An Empirical Analysis of Broiler
Production.” Journal of Labor Econ. 12 (April 1994): 155-79.



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