Ownership Structure in Agrifood Chains: The Marketing Cooperative
从不完全契约视角分析农业食品供应链中所有权结构对投资的影响，确定营销合作社成为唯一最优所有权结构的条件。
Abstract Globalization, technological developments, and consumer concerns press farmers and food producers to enhance product innovation and to seek more efficient production and distribution structures. These changes in agrifood markets shift the relative importance of the investments by different chain partners. It may therefore be necessary to change the allocation of ownership of essential assets to induce agents to make those investments that generate the chain optimum. This article analyzes the impact of ownership structure on investments in a three‐tier supply chain from an incomplete contracting perspective. Circumstances are determined in which a marketing cooperative is the unique first‐best ownership structure.