Who Benefits from Public Utilities?

Peter Hartley and Chris Trengove

The Economic Record, 1986, vol. 62, issue 2, 163-179

Abstract: We model the determination of output, factor payments and prices within publicly owned firms, assuming the firms are managed by utility‐maximizing employees monitored by vote‐maximizing politicians. The choice of a public monopoly to supply the output is most suited to further the redistributive aims of the politicians, but will also be favoured by employees who can capture some rents.

Date: 1986
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https://doi.org/10.1111/j.1475-4932.1986.tb00892.x

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