Individual Patron Preferences, Collective Choice, and Cooperative Equity Revolvement Practices

摘要: This paper analyzes how the proportion of patronage refunds a cooperative pays in cash affects flow individual patrons and an patron's preferences regarding equity revolvement are affected by age other factors. Using estimated patron distribution collective choice model based on median voter, we predict which refund practices should dominate under selected characteristics. We also examine role former determining outcomes may be alternative voting schemes.