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Why are Worker Cooperatives So Rare?

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NBER1997-07-01 更新2025-01-04 收录
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This paper argues that worker cooperatives are prone to redistribution among members, and that this redistribution distorts incentives. I assume that employment contracts are incomplete. In the model cooperative members pay in a capital contribution to purchase equipment. They then receive shocks to

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1997-07-01
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