Examining Share Lease Arrangements for Grain Operations in the Texas Panhandle Under Changing Market Conditions

Abstract

This paper examines the preferred share arrangement for both landlords and tenants producing grain in the Texas High Plains (based on risk preference), and determines the sensitivity to changing input costs and market prices. Results of the analyses show that tenants and landlords prefer different arrangements in all scenarios. Results also indicate that a tenant would prefer a different lease arrangement in 2008 than in 2005, while the landlord’s preference would remain unchanged.Financial Economics, Production Economics,