Some Tests Of The Economic Theory Of Cooperatives: Methodology And Application To Cotton Ginning
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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Volume (Year): 14 (1989)
Issue (Month): 01 (July)
Pages:
| Handle: | RePEc:ags:wjagec:32455 |
| Contact details of provider: | Web page: http://waeaonline.org/ More information through EDIRC
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- 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.
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