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Privatization, Information, and Incentives

Stiglitz, Joseph E.; Sappington, David M.

Describes a fundamental theorem concerning privatization. Conditions under which government production cannot improve upon private production; Government's objective in choosing among alternative forms of production; Distinction between public and private ownership; Transaction costs associated with intervention.

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Title
Journal of Policy Analysis and Management

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Economics
Published Here
April 29, 2013