This paper investigates why agricultural cooperatives exhibit different principles for the allocation of decision rights between the Board of Directors and the Management. A mass-action interpretation of the Nash equilibrium in an investment proposal game shows that, on the one hand, board...

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 -...