Financing and access in cooperatives

Patrick Rey*, Jean Tirole

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

32 Scopus citations

Abstract

Cooperative undertakings account for a substantial share of developed market economies and that share is likely to grow with the advent of the new economy. The paper develops a dynamic investment framework that relates access policies, financing and growth of cooperatives. It shows how discriminating among users affects the viability of cooperatives and impacts social efficiency. It then argues that in most circumstances, the cooperative form, even when viable on a stand-alone basis, is a weak competitor against alternative organizational forms. Last, the paper stresses that access policies involve a standard social trade-off between static efficiency and innovation.

Original languageEnglish (US)
Pages (from-to)1061-1088
Number of pages28
JournalInternational Journal of Industrial Organization
Volume25
Issue number5
DOIs
StatePublished - Oct 1 2007

Keywords

  • Cooperatives
  • Discrimination
  • Investment
  • Open access

ASJC Scopus subject areas

  • Industrial relations
  • Aerospace Engineering
  • Economics and Econometrics
  • Economics, Econometrics and Finance (miscellaneous)
  • Strategy and Management
  • Industrial and Manufacturing Engineering

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