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Privatization and Liberalization in Labour - Managed Industries: A Welfare Analysis

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  • F. Delbono

Abstract

I consider the point of view of an economic reformer aiming at improving social welfare in a currently monopolized labour-managed industry. I show that giving some tiny weight to output ti.e., consumere' surplus) in the original maximand may result in an outcome socially superior to those resulting from (partial or complete) privatization and/or liberalization.

Suggested Citation

  • F. Delbono, 1991. "Privatization and Liberalization in Labour - Managed Industries: A Welfare Analysis," Working Papers 105, Dipartimento Scienze Economiche, Universita' di Bologna.
    • Handle: RePEc:bol:bodewp:105
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