Subjective Expectations of the Landlord
| Variable | Mean | Std. Err. |
|---|---|---|
| Full Sample (n = 353) | ||
| Actual s(a) | 0.994 | 0.003 |
| Hypothetical s(a) | 0.983 | 0.003 |
| s(a) under sharecropping | 0.992 | 0.004 |
| s(a) under fixed rent | 0.997 | 0.002 |
| Slope of s(a) (i.e., sa) under sharecropping | −0.004 | 0.003 |
| Slope of s(a) (i.e., sa) under fixed rent | 0.016 | 0.004 |
| Regular Tenancy (n = 128) | ||
| Actual s(a) | 0.994 | 0.004 |
| Hypothetical s(a) | 0.987 | 0.005 |
| s(a) under sharecropping | 0.991 | 0.004 |
| s(a) under fixed rent | 0.990 | 0.004 |
| Slope of s(a) (i.e., sa) under sharecropping | −0.002 | 0.005 |
| Slope of s(a) (i.e., sa) under fixed rent | 0.007 | 0.004 |
| Reverse Tenancy (n = 225) | ||
| Actual s(a) | 0.994 | 0.004 |
| Hypothetical s(a) | 0.981 | 0.005 |
| s(a) under sharecropping | 0.985 | 0.005 |
| s(a) under fixed rent | 0.990 | 0.004 |
| Slope of s(a) (i.e., sa) under sharecropping | −0.005 | 0.004 |
| Slope of s(a) (i.e., sa) under fixed rent | 0.020 | (0.006) |
Note: All s(a) measures are in the [0,1] set and represent the landlord’s subjective likelihood that she will retain the plot. The sa measures are obtained from equation [2] and are the variable of interest in the application.