Land Rental Markets: Experimental Evidence from Kenya
通过在肯尼亚西部进行田野实验，随机补贴地主出租土地，发现租赁能提高产出和附加值，但租赁并非发生在预期收益最大的地块，表明摩擦来自搜寻、风险和学习。
Do land market frictions cause misallocation in agriculture? In a field experiment in western Kenya, we randomly subsidize owners to rent out land. Induced rentals mostly persist after the subsidy ends and increase output and value added, consistent with misallocation. Gains from trade arise from renters choosing higher-value crops, having higher productivity, and adopting more nonlabor inputs, while renters use similar quantities of labor as owners. Induced rentals are not those with the largest predicted gains, underlining the importance of the joint distribution of gains and frictions, with frictions arising from search, risk, and learning.