Soft budget constraints and the property rights theory of ownership
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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- 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.
- James A. Robinson & Ragnar Torvik, 2006. "A Political Economy Theory of the Soft Budget Constraint," NBER Working Papers 12133, National Bureau of Economic Research, Inc.
- Oliver Hart & Andrei Shleifer & Robert Vishny, 1996.
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1778, Harvard - Institute of Economic Research.
- Oliver Hart & Andrei Shleifer & Robert W. Vishny, 1997. "The Proper Scope of Government: Theory and an Application to Prisons," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1127-1161.
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- repec:hrv:faseco:30727607 is not listed on IDEAS
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