Private or Public? A Taxonomy of Optimal Ownership and Management Regimes

Stephen King and R. Pitchford

No 625, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: We develop a theory of public versus private ownership based on value diversion by managers. Government is assumed to face stronger institutional constraints than has been assumed in previous literature. The model which emerges from these assumptions is flexible and has wide application. We provide a mapping between the qualitative characteristics of an asset, its main use - including public goods characteristics, and spillovers to other assets values - and the optimal ownership and management regime.

Keywords: OWNERSHIP; MANAGEMENT (search for similar items in EconPapers)
JEL-codes: G32 (search for similar items in EconPapers)
Pages: 30 pages
Date: 1998
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Related works:
Journal Article: Private or Public? Towards a Taxonomy of Optimal Ownership and Management Regimes (2008)
Working Paper: A Taxonomy of Optimal Ownership and Management Regimes (2002)
Working Paper: Private or Public? A taxonomy of optimal ownership and management regimes (2001)
Working Paper: Private or public? a taxonomy of optimal ownership and management regimes (2000)
Working Paper: Private or Public? A Taxonomy of Optimal Ownership and Management Regimes (1998)
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