This paper uses a stochastic cost frontier model to investigate the efficiency of Britain’s private railways during the period 1893-1912. We find that there was substantial inefficiency in the industry with no sign of reduction over time. Our main conclusion is that principal agent problems...

This paper develops a typology of welfare services and attempts toillustrate its use in clarifying discussions about the privatisation ofwelfare and in analysing changes in expenditure. A third dimension,which concerns the extent of the consumer’s decision-making power andturns on the question...

This paper analyses the shifting balance between public sector and privatesector welfare provision in the United Kingdom over the past two decades. Fivesectors – education, health, personal social services, housing, and incomemaintenance and social security – are examined over three time...

Das Verhältnis zwischen Staat und Privaten weist zwei elementare Aspekte auf. Zum einen organisiert der Staat in seiner Funktion als Rechtsstaat einen verlässlichen Ord-nungsrahmen, indem er die Freiheitsräume der Individuen und ihre Grenzen definiert. Zum anderen existiert die ökonomische...