Using a model based on a tradeoff between moral hazard incentives and gains from specialization, this paper explains why farming has generally not converted from small, family-based firms into large, factory-style corporate firms. Nature is both seasonal and random, and the interplay of these...

Comprises a selection of 16 essays that provide clarification to issues pertinent to contemporary cooperatives. This book - divided into five parts: Cooperatives: between markets and hierarchies; Governance; Internal organizational issues; Conduct of cooperatives; and Cooperative performance -...