Purpose: The purpose is to understand why contract instability occurs when small landowners lease their land to large landholders. Design/methodology/approach: The authors develop a contract theoretical model to understand the stability problem in the farmland lease contract in China, where...

We study strategic information transmission in a Sender-Receiver game where players' optimal actions depend on the realization of multiple signals but the players disagree on the relative importance of each piece of news. We characterize a statistical environment - featuring symmetric loss...