Multiple variable factors,demand uncertainty,and the cooperative firm |
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Authors: | Gabriel A. Hawawini |
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Affiliation: | The City University of New York, New York, NY 10010, USA |
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Abstract: | It has been shown that the risk averse, cooperative firm producing its output with labor as the only variable input and selling this output in a competitive market will produce more than the cooperative firm operating under condition of certainty. This letter proves that this result may not apply to the case of the cooperative firm facing a stochastic demand and/or employing more than one variable input. |
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