The authors study investment decisions in a farmers' cooperative. Farmers sell their products through the cooperative. Before production takes place, the cooperative has to decide on an investment. The authors study whether voting on investment leads to efficient investment decisions. The answer depends on how the number of votes and the cost of the investment are distributed among the farmers. It is shown that, in a variety of settings, there is no reason to suppose that voting rules favoring large farmers--'one cow, one vote' rules--are more efficient than simple majority rule. Copyright 1997 by The editors of the Scandinavian Journal of Economics.
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Volume (Year): 99 (1997) Issue (Month): 4 (December) Pages: 597-615 Download reference. The following formats are available: HTML
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Paper
Svend Albæk & Christian Schultz, 1997.
"One cow, one vote?,"
CIE Discussion Papers
1997-01, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
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