This article develops a sequential game-theoretic model of heterogeneous producers to examine the market and welfare effects of cooperative involvement in process innovation activity in the agricultural sector. The analysis examines an open-membership, input-supplying cooperative (co-op) that...

This paper builds on the work of BUSCHENA and GRAY (1999) to look at the effects of mergers in the North American malting industry as ten firms in two separated markets merged into four firms in an integrated market. We explore the sensitivity of our results to the assumption of market power. We...