Cross, Robin M.; Buccola, Steven T.; Thomann, Enrique A. - In: European Review of Agricultural Economics 36 (2009) 3, pp. 369-393
Competitive environments encourage cooperatives to liquidate by distributing equity to their members, often by raising the transfer prices paid for member raw product. We provide a method of detecting when such liquidation activity begins. In the process, we derive the arbitrage-free price...