On the virtues of privatization when government is benevolent

This paper shows that privatizing a public firm can be welfare improving even if the government is a welfare maximizer. We consider a setup where the firm’s owner (a profit-maximizing entrepreneur or a benevolent government) employs a manager who can invent and implement an innovative production tec...

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Veröffentlicht in:	Journal of economic behavior & organization 2007-09, Vol.64 (1), p.17-34
1. Verfasser:	Lulfesmann, Christoph
Format:	Artikel
Sprache:	eng
Schlagworte:	Business ownership Business practices Contracts Economic theory Entrepreneurship Incomplete contracts Innovation diffusion Innovative technologies Privatization Profit maximization Studies Technological change
Online-Zugang:	Volltext
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