Ownership structure and incentives to invest: dual-structured irrigation cooperatives in Australia

Bradley Plunkett, Fabio R. Chaddad and Michael L. Cook

Journal of Institutional Economics, 2010, vol. 6, issue 2, 261-280

Abstract: In the past decade, Australia has begun to privatize its irrigation system. Two general models have emerged: a single and a dual ownership structure. This paper examines the trade-offs, costs and benefits, and the attendant efficiencies regarding costs of ownership. In particular, we examine member capital investment incentives and resultant risk-bearing costs related to capital formation. The paper concludes that the dual ownership structure system has significant economic advantages relative to its single-structured counterpart.

Date: 2010
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