Evolutionary Approaches to Privatisation

Paul Ormerod ()

Economic Affairs, 2014, vol. 34, issue 2, 156-168

Abstract: There is considerable scope for further privatisation, with the particular aim of sharply reducing public sector claims on national output. However, survey evidence indicates considerable opposition to further privatisations, particularly those taking the form of creating dividend-paying joint stock companies. The paper considers the value of surveys when compared with the economic concept of stable, revealed preferences, and the potential endogeneity of preferences as discussed by Hayek (1949). Consideration is also given to the implications of making concessions to survey opinion by carrying out privatisations under alternative corporate structures.

Date: 2014
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