Abstract
Most studies of cooperative firms have been conducted using neoclassically inspired economic models that consider the characteristics and behavior of capitalist companies and their owners, thus failing to accommodate the wide range of criteria that motivate the creation of cooperative firms. These models have traditionally been at odds with the real objectives of cooperative firms due to their inability to accommodate a series of often conflicting criteria. We put forth a set-theoretic model of governance of cooperative firms that allows us to investigate how different models of cooperative governance can be implemented and how cooperative decision-making can be solved using a multicriteria decision analysis approach.
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