@article{Royer:244008,
      recid = {244008},
      author = {Royer, Jeffrey S.},
      title = {The Neoclassical Theory of Cooperatives: Part I},
      journal = {Journal of Cooperatives},
      address = {2014},
      number = {1142-2016-92793},
      pages = {20},
      year = {2014},
      abstract = {The theory of the firm contained in most textbooks is  inadequate for understanding the economic behavior of  cooperatives because some assertions about firm behavior,  such as profit maximization, may be inappropriate for  cooperatives. This article provides an introduction to the  neoclassical theory of cooperatives, which has been useful  for generating insights into the behavior of cooperatives  in various market structures, helping cooperatives develop  business strategies consistent with their objectives, and  informing public policy decisions concerning cooperatives.  Part I of this article presents the basic elements of the  neoclassical theory as it pertains to farm supply  cooperatives.},
      url = {http://ageconsearch.umn.edu/record/244008},
      doi = {https://doi.org/10.22004/ag.econ.244008},
}