Just to interject on that, we've done some work. You had Brady Deaton in here about a month ago, and he's done some work looking at land rents and land values. The vast majority of land rental contracts are simple handshake agreements, and I think that reflects a trust within the farming community, in that if you as a farmer, as a tenant, do something unfavourable on that land, the reputation is going to be lost if you haven't paid, so you're going to have trouble finding land. I think that reflects those informal institutions in the rural areas.
On May 4th, 2017. See this statement in context.