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Codetermination and Efficiency: Some Market Failure Arguments Revisted / Mitbestimmung und Effizienz: Einige Marktversagensargumente neu betrachtet

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  • Osbild Reiner

    (Leibnizstr. 23, D-41061 Mönchengladbach)

Abstract

In this paper the relationship between state-mandated codetermination and efficiency is examined. The paper starts from the theoretical point that there must be some market failure preventing freely contracting individuals from setting up efficient labour contracts. These market failures are identified as some forms of strategic behavior and externalities. In neither case codetermination can be regarded as a useful state intervention opening up productivity gains that couldn't be achieved by private action. The empirical evidence of Germany confirms this theoretical point.

Suggested Citation

  • Osbild Reiner, 1994. "Codetermination and Efficiency: Some Market Failure Arguments Revisted / Mitbestimmung und Effizienz: Einige Marktversagensargumente neu betrachtet," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 213(1), pages 31-39, February.
    • Handle: RePEc:jns:jbstat:v:213:y:1994:i:1:p:31-39
    DOI: 10.1515/jbnst-1994-0103
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