Owner or Holder? A Critical Study of Property Rights in Public Services
AbstractThis paper deals with efficient organizational choices for the provision of public services. To better apprehend observed contracts of public-private partnerships, we depart from the property -rights literature to distinguish between ownership, rights to make residual decisions, and rights to receive residual benefits. Indeed, such rights can be temporarily transferred to a private firm, even if ownership of the assets remains public. Hence, such a separation makes it possible to analyse the large continuum of contracts from full private to full public management. Our results show that there is always a degree of private involvement that is socially efficient.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 165 (2009)
Issue (Month): 2 (June)
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Web page: http://www.mohr.de/jite
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- H7 - Public Economics - - State and Local Government; Intergovernmental Relations
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
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