This paper studies the free entry competitive equilibria of a labor managed economy when there are less than complete contingent claims markets. First, we prove the existence of a simple labor management equilibrium which is inefficient in the Diamond sense. Second, we introduce an insurance...

This paper focuses on public utilities (telecommunications, electricity, gas, water, transportation (roads, railways, buses, ports, airports), and postal service, which are sometimes referred to as economic infrastructures. The paper summarizes the desirable departures from the practices of...

This paper discusses the special features that distinguish transnational projects from usual public goods. In addition, the authors develop a theoretical framework for exploring the allocation and distributive consequences of this kind of transnational coordination. The paper also addresses...

During the past two decades, Latin American countries have made pioneering efforts in reforming infrastructure services. The "first generation of reforms" encompassed widespread privatization, deregulation and restructuring of the provision of energy, water, transport and telecommunications...

This paper discusses the special features that distinguish transnational projects from usual public goods. In addition, the authors develop a theoretical framework for exploring the allocation and distributive consequences of this kind of transnational coordination. The paper also addresses...

This paper focuses on public utilities (telecommunications, electricity, gas, water, transportation (roads, railways, buses, ports, airports), and postal service, which are sometimes referred to as economic infrastructures. The paper summarizes the desirable departures from the practices of...

We study the optimal mechanism for downsizing the public sector which takes into account different informational constraints (complete versus asymmetric information on each workers efficiency) and political constraints (mandatory versus voluntary downsizing). Under complete information, the...

This paper studies the sequence of short-run quantity-constrained equilibria of a model with a single storable output, labor and money. The durability of output gives rise to inventory fluctuations which influence the course of the equilibria attained. One special feature of interest is the...

This paper shows that supervision with soft information is valuable whenever supervisors and supervisees collude under asymmetric information and proceeds then to derive an Equivalence Principle between organizational forms of supervisory and productive activities. We consider an organization...