The (Ir)Relevance of the Cooperative Form

Jean Tirole, Paul-Henri Moisson and Pierre Dubois
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Jean Tirole: TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, IAST - Institute for Advanced Study in Toulouse
Paul-Henri Moisson: TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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Abstract: It is puzzling that cooperatives, which stand for the interests of their users, do not occupy more space in the market for corporate forms. This paper unveils a new impediment to their formation. It shows that equilibrium free-riding handicaps cooperatives in their competition with alternative institutions, notably the for-profits. The irrelevance of cooperatives is a remarkably robust result. The paper then analyzes desirable government interventions in the corporate market.

Keywords: Cooperatives; Free-riding; Competing corporate forms (search for similar items in EconPapers)
Date: 2023-06-28
Note: View the original document on HAL open archive server: https://hal.science/hal-04963853v1
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Working Paper: The (Ir)Relevance of the Cooperative Form (2023)
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