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Shadow Prices as Member Returns for a Marketing Cooperative

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  • Ian W. Hardie

Abstract

Many marketing cooperatives handle several types or grades of member-supplied products. These cooperatives have to determine the returns to be alloted to each product. Helmberger, Hoos, and Nicholls have solved this problem for a cooperative with a single homogeneous product. However, their models do not extent readily to the multiple product case. This article describes how returns can be simultaneously calculated for each member-supplied product handled by a multiple product marketing cooperative. A linear programming model is first introduced to compute the returns under a set of rather restrictive assumptions. When these assumptions are relaxed, another method of deriving the values is required. Such a method—called the "pooling constraint" method—is presented in the latter part of the article.

Suggested Citation

  • Ian W. Hardie, 1969. "Shadow Prices as Member Returns for a Marketing Cooperative," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 51(4), pages 818-833.
  • Handle: RePEc:oup:ajagec:v:51:y:1969:i:4:p:818-833.
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    File URL: http://hdl.handle.net/10.2307/1237776
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    Cited by:

    1. Han, Saim Woo, 1992. "A production and pricing decision model for the Korean agricultural cooperatives," ISU General Staff Papers 1992010108000010995, Iowa State University, Department of Economics.
    2. Lopez, Rigoberto A. & Spreen, Thomas H., 1984. "The Impact of Alternative Payment Arrangements on the Performance of Florida Sugarcane Cooperatives," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 16(2), pages 99-108, December.
    3. Helmberger, Peter G. & Campbell, Gerald R. & Dobson, William D., 1981. "PART IV. Organization and Performance of Agricultural Markets," AAEA Monographs, Agricultural and Applied Economics Association, number 337229.

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