A NEW FRAMEWORK FOR THE ECONOMIC ANALYSIS OF COOPERATIVE FIRMS: Self-defined rules, common resources, motivations, and incentives
Cooperatives are characterised by mutual-benefit coordination mechanisms aimed at the fulfilment of individual behaviour and outcomes in cooperatives by bringing together new-institutionalism, behavioural and evolutionary economics. Our framework considers four main dimensions of the governance of cooperative firms: (1) the development and application of self-defined rules by the members of the cooperative; (2) the management, and appropriation of common resources and outcomes; (3) intrinsic motivations and reciprocating behaviours; (4) the implementation of suitable incentive mixes based on inclusion and reciprocity, including both pecuniary and non- pecuniary elements. An example is offered in order to highlight possible problems in the governance of cooperative firms, in particular the processes of distribution and appropriation of surplus. The example aims at introducing the discussion of the new framework of analysis.
|Date of creation:||Jul 2010|
|Date of revision:|
|Contact details of provider:|| Postal: Università degli Studi di Milano-Bicocca, Edificio U9, Viale dell'Innovazione, 10, 20126 Milano|
Phone: 0039 02 6448 6540
Web page: http://www.econometica.it
More information through EDIRC
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.:
- Vladislav VALENTINOV, 2008. "The Economics Of The Non-Distribution Constraint: A Critical Reappraisal," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 79(1), pages 35-52, 03.
- Leete, Laura, 2000. "Wage equity and employee motivation in nonprofit and for-profit organizations," Journal of Economic Behavior & Organization, Elsevier, vol. 43(4), pages 423-446, December.
- Pencavel, John & Pistaferri, Luigi & Schivardi, Fabiano, 2006.
"Wages, Employment, and Capital in Capitalist and Worker-Owned Firms,"
IZA Discussion Papers
2188, Institute for the Study of Labor (IZA).
- John Pencavel & Luigi Pistaferri & Fabiano Schivardi, 2006. "Wages, Employment, and Capital in Capitalist and Worker-Owned Firms," ILR Review, Cornell University, ILR School, vol. 60(1), pages 23-44, October.
- Edward P. Lazear & Kathryn L. Shaw, 2007.
"Personnel Economics: The Economist's View of Human Resources,"
Journal of Economic Perspectives,
American Economic Association, vol. 21(4), pages 91-114, Fall.
- Edward P. Lazear & Kathryn L. Shaw, 2007. "Personnel Economics: The Economist's View of Human Resources," NBER Working Papers 13653, National Bureau of Economic Research, Inc.
- Vladislav Valentinov, 2007. "The Property Rights Approach to Nonprofit Organization: The Role of Intrinsic Motivation," Public Organization Review, Springer, vol. 7(1), pages 41-55, March.
- Carlo Borzaga & Luigi Mittone, 1997. "The Multi-Stakeholders Versus the Nonprofit Organisation," Department of Economics Working Papers 9707, Department of Economics, University of Trento, Italia.
- Ernst Fehr & Simon Gächter, 2000.
"Fairness and Retaliation: The Economics of Reciprocity,"
Journal of Economic Perspectives,
American Economic Association, vol. 14(3), pages 159-181, Summer.
- Ernst Fehr & Simon Gaechter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," CESifo Working Paper Series 336, CESifo Group Munich.
- Ernst Fehr & Simon Gaechter, . "Fairness and Retaliation: The Economics of Reciprocitys," IEW - Working Papers 040, Institute for Empirical Research in Economics - University of Zurich.
- Susan Rose-Ackerman, 1996. "Altruism, Nonprofits, and Economic Theory," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 701-728, June.
- Craig, Ben & Pencavel, John, 1992. "The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest," American Economic Review, American Economic Association, vol. 82(5), pages 1083-105, December.
- Pencavel, John & Craig, Ben, 1994. "The Empirical Performance of Orthodox Models of the Firm: Conventional Firms and Worker Cooperatives," Journal of Political Economy, University of Chicago Press, vol. 102(4), pages 718-44, August.
- Amos Tversky & Daniel Kahneman, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Levine's Working Paper Archive
7656, David K. Levine.
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
- Bonin, John P & Jones, Derek C & Putterman, Louis, 1993. "Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1290-320, September.
- Becchetti, Leonardo & Castriota, Stefano & Tortia, Ermanno, 2009. "Productivity, wages and intrinsic motivation in social enterprises," AICCON Working Papers 66-2009, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
- Silvia Sacchetti & Roger Sugden, 2009. "The Organization of Production and its Publics: Mental Proximity, Market and Hierarchies," Review of Social Economy, Taylor & Francis Journals, vol. 67(3), pages 289-311.
- Schlicht, Ekkehart, 1998. "On Custom in the Economy," OUP Catalogue, Oxford University Press, number 9780198292241, June.
- D. Joseph Stiglitz, 2009. "Moving Beyond Market Fundamentalism To A More Balanced Economy ," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 80(3), pages 345-360, 09.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Ernst Fehr & Urs Fischbacher, 2002. "Why Social Preferences Matter -- The Impact of Non-Selfish Motives on Competition, Cooperation and Incentives," Economic Journal, Royal Economic Society, vol. 112(478), pages C1-C33, March.
- Williamson, Oliver E, 1973. "Markets and Hierarchies: Some Elementary Considerations," American Economic Review, American Economic Association, vol. 63(2), pages 316-25, May.
- Sara Depedri & Ermanno Tortia & Maurizio Carpita, 2010. "Incentives, job satisfaction and performance: empirical evidence in italian social enterprises," Euricse Working Papers 1012, Euricse (European Research Institute on Cooperative and Social Enterprises).
- Burdín, Gabriel & Dean, Andrés, 2009. "New evidence on wages and employment in worker cooperatives compared with capitalist firms," Journal of Comparative Economics, Elsevier, vol. 37(4), pages 517-533, December.
- Francesco Sacchetti & Silvia Sacchetti & Roger Sugden, 2009. "Creativity and socio-economic development: space for the interests of publics," International Review of Applied Economics, Taylor & Francis Journals, vol. 23(6), pages 653-672.
- Daniel Kahneman & Alan B. Krueger & David Schkade & Norbert Schwarz & Arthur Stone, 2004. "Toward National Well-Being Accounts," American Economic Review, American Economic Association, vol. 94(2), pages 429-434, May.
- Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
When requesting a correction, please mention this item's handle: RePEc:ent:wpaper:wp21. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Matteo Rizzolli)
If references are entirely missing, you can add them using this form.