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Some Tests Of The Economic Theory Of Cooperatives: Methodology And Application To Cotton Ginning

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  • Sexton, Richard J.
  • Wilson, Brooks M.
  • Wann, Joyce J.
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    Abstract

    Little progress has been made in testing the often conflicting hypotheses generated from theoretical research on cooperatives. This paper addresses the deficiency by describing and applying (to California cotton ginning cooperatives) a methodology to test key hypotheses concerning (a) cooperativesÂ’ price-output equilibrium, (b) allocative efficiency, and (c) utilization of capital inputs. The empirical results (a) are consistent with predictions from the game theory model of cooperative behavior, (b) reject the null hypothesis of absolute allocative efficiency, and (c) indicate absolute overutilization of capital inputs among the sample cooperatives.

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    File URL: http://purl.umn.edu/32455
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    Bibliographic Info

    Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

    Volume (Year): 14 (1989)
    Issue (Month): 01 (July)
    Pages:

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    Handle: RePEc:ags:wjagec:32455

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    Web page: http://waeaonline.org/
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    Keywords: Agribusiness; Crop Production/Industries;

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    1. Oberhofer, W & Kmenta, J, 1974. "A General Procedure for Obtaining Maximum Likelihood Estimates in Generalized Regression Models," Econometrica, Econometric Society, vol. 42(3), pages 579-90, May.
    2. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
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    Cited by:
    1. Caputo, Michael R. & Paris, Quirino, 2004. "An Atemporal Microeconomic Theory And An Empirical Test Of Price-Induced Technical Progress," Working Papers 11992, University of California, Davis, Department of Agricultural and Resource Economics.
    2. Hueth, Brent & Taylor, Christopher W., 2013. "Spatial Competition in Agricultural Markets: A Discrete-Choice Approach," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150506, Agricultural and Applied Economics Association.
    3. Senhaji, Arvid, 2008. "Duality theorems summarising some unambiguous qualitative comparative static results for processing cooperatives - The restricted profit function applied," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44374, European Association of Agricultural Economists.
    4. Steven Buccola, 2000. "Material And Value-Adding Inputs In Manufacturing Enterprises," Journal of Productivity Analysis, Springer, vol. 13(3), pages 231-247, May.
    5. Hailu, Getu & Jeffrey, Scott R. & Goddard, Ellen W., 2004. "Impact Of Decision Makers Divergence In Risk Attitudes And Perceptions On Co-Operative Management In Canada," 2004 Annual meeting, August 1-4, Denver, CO 20246, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Zvi Lerman & Claudia Parliament, 1990. "Comparative performance of cooperatives and investor-owned firms in US food industries," Agribusiness, John Wiley & Sons, Ltd., vol. 6(6), pages 527-540.
    7. Chaddad, Fabio Ribas, 2006. "Investment Constraints in Agricultural Cooperatives: Theory, Evidence and Solutions," 44th Congress, July 23-27, 2006, Fortaleza, Ceará, Brazil 143259, Sociedade Brasileira de Economia, Administracao e Sociologia Rural (SOBER).
    8. Lerman, Zvi & Parliament, Claudia, 1990. "Comparative Performance Of Food-Processing Cooperatives And Investor-Owned Firms," Staff Papers 13455, University of Minnesota, Department of Applied Economics.
    9. Hueth, Brent & Ligon, Ethan & Dimitri, Carolyn, 2007. "AJAE Appendix: Agricultural Contracts: Data and Research Needs," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, vol. 89(5), December.

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