Many industries and sectorsʺ of a modern economy display the interaction of private and public agents which forms the topic of this seminar. A first approximation classification identifies three broad types of situations, which beyond the prima facie similarity, are however radically different...

We study the link between second-best production efficiency and the constraints on income distribution imposed by private ownership of firms in economies with Ramsey taxation. We review the result of Dasgupta and Stiglitz [1972], Mirrlees [1972], Hahn [1973], and Sadka [1977] about firm-specific...