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Soft budget constraints and the property rights theory of ownership

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  • Eggleston, Karen

Abstract

Modeling the government make-or-buy decision, Hart and colleagues [Hart, O., Shleifer, S. and Vishny, R.W., 1997, The proper scope of government: Theory and an application to prisons, Quarterly Journal of Economics 112, 1127-1161] assume government providers are exogenously more replaceable than private providers. Instead, we posit government managers' soft incentives arise endogenously from their lack of control rights, because of rationally softer budget constraints.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 100 (2008)
Issue (Month): 3 (September)
Pages: 425-427

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Handle: RePEc:eee:ecolet:v:100:y:2008:i:3:p:425-427

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  1. Hart, Oliver & Shleifer, Andrei & Vishny, Robert W, 1997. "The Proper Scope of Government: Theory and an Application to Prisons," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1127-61, November.
  2. Robinson, James A & Torvik, Ragnar, 2005. "A Political Economy Theory of the Soft Budget Constraint," CEPR Discussion Papers 5274, C.E.P.R. Discussion Papers.
  3. Mathias Dewatripont & Eric Maskin, 2004. "Credit and efficiency in centralized and decentralized economies," ULB Institutional Repository 2013/9605, ULB -- Universite Libre de Bruxelles.
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Citations

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Cited by:
  1. Yu-Chu Shen & Karen Eggleston, 2008. "The Effect of Soft Budget Constraints on Access and Quality in Hospital Care," NBER Working Papers 14256, National Bureau of Economic Research, Inc.
  2. Andersson, Fredrik & Jordahl, Henrik, 2011. "Outsourcing Public Services: Ownership, Competition, Quality and Contracting," Working Papers 2011:20, Lund University, Department of Economics.
  3. Kornai, János, 2008. "A puha költségvetési korlát szindrómája a kórházi szektorban
    [The soft budget constraint syndrome in the hospital sector]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1037-1056.
  4. Brekke, Kurt R. & Siciliani, Luigi & Straume, Odd Rune, 2012. "Hospital competition with soft budgets," Discussion Paper Series in Economics 6/2012, Department of Economics, Norwegian School of Economics.
  5. János Kornai, 2009. "The soft budget constraint syndrome in the hospital sector," International Journal of Health Care Finance and Economics, Springer, vol. 9(2), pages 117-135, June.
  6. Eggleston, Karen & Shen, Yu-Chu, 2011. "Soft budget constraints and ownership: Empirical evidence from US hospitals," Economics Letters, Elsevier, vol. 110(1), pages 7-11, January.

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