This paper examines how ownership structure affects endogenous quality choice and the subsequent equilibrium outcomes. Investor owned firms (IOFs) and producer cooperatives (COOPs) are analyzed within a duopoly framework including a primary and a secondary level. The firms play a two-stage game,...

This paper examines how ownership structure affects quality choice and the subsequent equilibrium outcomes within a duopoly framework. Specifically, investor owned firms and cooperatives are analyzed in a closed market setting where these firms may coexist in the economy. The conditions under...

As the U.S. hog production sector becomes ever more specialized, the importance of capital inputs has heightened. Given that it is costly to adjust the capital stock and that the associated adjustment cost function may exhibit cost asymmetries between investment and disinvestment,...