Retail food cooperatives: testing the "small is beautiful" hypothesis
1983
Cotterill, R.
Extract: This study operationalizes Schumacher's hypothesis by specifying a simultaneous equations model to predict: 1) the level of volunteer participation for various sized co-ops and 2) unit operating expenses for various sized co-ops and the level of participation (an endogenous variable). The model is used to estimate the trade-off between the benefits from economies of size and volunteer labor. Schumacher predicts that the latter is most important; however, gains from economies of size outweigh losses from reduced participation in larger co-ops. Nonetheless volunteer labor's cost reducing effect makes it important for a small co-op entering the market.
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