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This paper models privatization as a cooperative game between the government, a trade union and the private … shareholders. These players kno w that privatization increases the efficiency of a firm, but only the management of the firm knows …
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The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) was the largest experiment in public divestitures among capitalist economies. It had a deep impact on economic policy-making world wide, and was vastly...
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