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Workers' enterprises in the case of arts production

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Author Info
Cuccia, Tiziana
Cellini, Roberto

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Abstract

This paper shows that the standard result according to which labour-managed firms produce a lower amount of output, as compared to profit-maximising firms, is reversed if production per se gives utility and the workers’ membership of labour-managed firms is set prior to market decisions. Under the same hypotheses, the labour-managed firms set a higher product quality than the profit-oriented ones, ceteris paribus. The considered hypotheses are particularly relevant for the case of the performing arts sector, so that the presence of labour-managed firms should be particularly welcomed in this sector.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5192.

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Date of creation: Oct 2007
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Handle: RePEc:pra:mprapa:5192

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Related research
Keywords: workers'enterprises labour managed firms arts

Find related papers by JEL classification:
L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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    Other versions:
  8. Henry Hansmann, 1981. "Nonprofit Enterprise in the Performing Arts," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 341-361, Autumn. [Downloadable!] (restricted)
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