Though horizon and portfolio problems are commonly thought to limit cooperatives' ability to capitalize on investment opportunities, empirical inquiry into the existence of these constraints is sparse, and recent conceptual arguments suggest that the horizon problem in particular may be less...

Estimating parameters of constrained optimization models in a consistent way requires a different set of methods than what is available in a typical econometric toolkit. We identify three complications likely to arise in this context, and suggest solutions to those complications: (i) the...