Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships
AbstractThe question of what should determine the boundaries between public and private firms in an advanced capitalist economy is a highly topical one. In this paper I discuss some recent theoretical thinking on this issue. I divide the paper into two parts. First, I make some general remarks about the relationship between the theoretical literature on privatisation and incomplete contracting theories of the firm. Second, I use some of the ideas from this literature to develop a very preliminary model of public-private partnerships. Copyright Royal Economic Society 2003
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Bibliographic InfoArticle provided by Royal Economic Society in its journal Economic Journal.
Volume (Year): 113 (2003)
Issue (Month): 486 (March)
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Other versions of this item:
- Oliver Hart, 2002. "Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships," The Centre for Market and Public Organisation 02/061, Department of Economics, University of Bristol, UK.
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- H1 - Public Economics - - Structure and Scope of Government
- H4 - Public Economics - - Publicly Provided Goods
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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