Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships
The question of what should determine the boundaries between public and private firms in an advanced capitalist economy is a highly topical one. In this paper I discuss some recent theoretical thinking on this issue. I divide the paper into two parts. First, I make some general remarks about the relationship between the theoretical literature of privatization and incomplete contracting theories of the firm. Second, I use some of the ideas from this literature to develop a very preliminary model of public-private partnerships.
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- Stephen King & Rohan Pitchford, 2008.
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- repec:hrv:faseco:30727607 is not listed on IDEAS
- Grout, Paul A, 1997. "The Economics of the Private Finance Initiative," Oxford Review of Economic Policy, Oxford University Press, vol. 13(4), pages 53-66, Winter. Full references (including those not matched with items on IDEAS)
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