This paper offers a comprehensive evaluation of the welfare impact of a policy usually regarded as highly successful and vastly imitated worldwide: The privatisation policy pursued in the UK by Mrs Thatcher's government (1979-1990) and subsequently by Mr Major's government (1990-1997) The...

Public firms are public economic units that take location decisions or are involved in such decisions. There is a lack of location theories that consider this feature. The literature on public facility location theory mainly concerns location of real capital serving economic units. Attempts to...

The decision oriented theory of the public firm (Feng, Friedrich 2013) becomes extended. The authors consider that sometimes public firms compete horizontally as well. This can be due to competition among the public owners (e.g. municipalities) considering location choices for public firms they...

Procurement professionals will increasingly be asked to play an important role in adapting to and mitigating the effects of climate change. Unfortunately, we don't have time to waste, either feeling hopeless or waiting for changes to the Federal Acquisition Regulation (FAR) and subsequent...

As an industry, higher education shows some striking anomalies. It is the only important industry in the United States that has been increasingly socialized in recent decades: the market share of public institutions grew, roughly, from 50 percent to 80 percent over the last half of the twentieth...

This chapter concludes a book that grew out of a 2015 conference hosted by the University of Pennsylvania's Center for Ethics and the Rule of Law, which brought together defense industry leaders, academics, and lawyers to discuss ethical challenges to the defense industry. Authors from the...

The paper discusses possible interpretations of the fall of the public enterprise in the economic ideology of the European left-wing parties. The first section rejects the claim that a technological shift has weakened the case for the nationalization of natural monopolies. Economies of scale in...

This paper offers a review and discussion of the evidence concerning the underpricing and long run performance of British PIPOs (Privatisation Initial Public Offerings) between 1977-1996, i.e. from the first privatisation under a Labour Government (British Petroleum), until the last ones by a...

What is the best way to deliver various goods and services in the advanced complex economy? What is the appropriate division of labor among the state, the private for-profit, and the nonprofit sectors? This paper explores these questions relative to the well-being of consumers, and offers a set...

Assessing the welfare impact of a policy on the scale of the British privatisation programme is a daunting task. Four sets of issues raised in the impressive study by Florio et al of the British privatisation programme merit further discussion. One such set of issues relates to the different...