AGRICULTURAL SECTOR: RESEARCH ON THE PROBLEM OF INVESTMENT USING THE THEORY OF INCOMPLETE CONTRACTS

DOI 10.32651/261-123

Issue № 1, 2026, article № 15, pages 123-136

Section: Problems of agroeconomic researches

Language: Russian

Original language title: АГРАРНЫЙ СЕКТОР: ИССЛЕДОВАНИЕ ПРОБЛЕМЫ ИНВЕСТИЦИЙ С ИСПОЛЬЗОВАНИЕМ ТЕОРИИ НЕПОЛНЫХ КОНТРАКТОВ

Keywords: AGRICULTURAL SECTOR, INVESTMENTS, INCOMPLETE CONTRACTS THEORY, RESIDUAL CONTROL RIGHTS, OPPORTUNISM, GOVERNMENT SUPPORT, INCOME DISTRIBUTION, SPECIFIC INVESTMENTS, CONTRACTUAL RELATIONS

Abstract: This article explores investment cooperation challenges in the agricultural sector using the theory of incomplete contracts. A case study of a national seed production project is used to examine various models of property rights, residual control, and revenue distribution among three main actors: the state, a university, and an agricultural producer. An adapted investment model is proposed to account for the specificity of contributions and post-investment opportunism risks. Mechanisms for reducing transaction costs and increasing contract stability are discussed. The findings may serve to optimize public sector involvement in agricultural investment projects, which is particularly relevant amid declining private investment activity and growing uncertainty in Russia's agricultural sector.

Authors: Liasnikov Nikolai Vasilevich, Romanova IUliia Aleksandrovna, Borobov Vasilii Nikolaevich