This article analyses the impact of ownership structure on investments in a three-party supply chain from an incomplete contracting perspective. Circumstances are determined in which a marketing cooperative is the unique first-best ownership structure.

Multidensity integral equation theory for a model of an associating fluid forming freely jointed fused hard-sphere chain, is presented. Our approach is based on the Wertheim's polymer Percus-Yevick (PPY) theory supplemented by the ideal chain approximation and can be regarded as an extension of...

We determine the circumstances when the absence of public listing, often believed to be a disadvantage, makes a cooperative the unique efficient governance structure. This is established in a multi-task principal-agent model, capturing that cooperatives are not publicly listed and their CEOs...