Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships Author(s):
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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...
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