Labor-Managed Firms in Transition Economies&ast

Yochanan Shachmurove () and Uriel Spiegel
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Uriel Spiegel: University of Pennsylvania

Comparative Economic Studies, 1995, vol. 37, issue 1, pages 39-53

Abstract: This paper investigates the transition of the LMF toward its optimal size. Once the firm has decided on the optimal number of members, the question of how to move toward that equilibrium must be addressed. The firm may not currently find itself at the optimal level for two reasons. Either the current number of members may not be optimal, or new market conditions dictate a change in the firm's optimal size. The main factors that must be considered in the move toward the optimal level are the benefits to the LMF members and the costs of transition.

Date: 1995
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