Miyazaki, Hajime; Neary, Hugh M. - In: Bell Journal of Economics 14 (1983) 1, pp. 259-270
The labor managed firm (LMF) is viewed as a contract-based coalition of workers. The coalition contract defines the worker's membership in the LMF, gives credence to the short-run risk of layoffs, and identifies the LMF as being more than a mere neoclassical production function plus fixed cost....