preferable. Technology adoption crucially depends on how property rights are distributed and which method of privatization is …' equity shares, may perform worse. Furthermore only a Big Bang approach to privatization might lead to favorable outcomes. …

policy of mass privatization will be implemented - if the manager's utility enters the political support function with a … privatization schemes sacrifice efficiency to satisfy political constraints and show that they can be very attractive from an …

The paper offers a selective survey on the incomplete contracts approach to privatization. Furthermore, a simple model … of privatization to an owner-manager is developed in which different allocations of ownership rights lead to different …, privatization is a commitment device of the government to credibly reward the manager for a successful cost reduction and to harden …

This paper deals with a special hold-up problem in privatization. …