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I consider a society with heterogeneous individuals who can form organizations for the production of a differentiated service. An arrangement of organizations is said to be split up stable when there is no majority to split any of the organizations. Unlike other equilibrium concepts in the...
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their performance? Using public choice and institutional economics theory this paper analyses what chances of success PPPs … ; Contract Theory ; Agency ; Tax State ; Transaction Cost ; Governance ; Legitimacy ; Transport Infrastructure ; User Financing …
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Policies are typically chosen by politicians and bureaucrats. This paper investigates the criteria that should lead a society to allocate policy tasks to elected policymakers (politicians) or non elected bureaucrats. Politicians are preferable for tasks that do not involve too much specific...
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