Property Rights and the Nature of the Firm

Hart, Oliver; Moore, John

doi:10.1086/261729

Cited by 4,210 publications

(2,560 citation statements)

References 18 publications

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“…The first incentives component is the private ownership. The basis is the property-rights theory of Grossman and Hart (1986) and Hart and Moore (1990), which was applied to public service contracting by Hart, Schleifer and Vishny (1997).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…The controversy has concerned services ranging from education, job placement services and healthcare to transportation and garbage collection. One motivation for privatisation is to induce incentives for innovation and cost reduction (Grossman and Hart 1986;Hart and Moore 1990;Hart et al 1997). As pointed out by Hart et al (1997), however, incentives to engage in pure cost reduction may be too strong, which could deter the quality of the services.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Does privatisation of vocational rehabilitation improve labour market opportunities? Evidence from a field experiment in Sweden

Laun

Thoursie

2014

Journal of Health Economics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The Institute for Labour Market Policy Evaluation (IFAU) is a research institute under the Swedish Ministry of Employment, situated in Uppsala. IFAU's objective is to promote, support and carry out scientific evaluations. The assignment includes: the effects of labour market policies, studies of the functioning of the labour market, the labour market effects of educational policies and the labour market effects of social insurance policies. IFAU shall also disseminate its results so that they become accessible to different interested parties in Sweden and abroad. Terms of use: Documents inIFAU also provides funding for research projects within its areas of interest. The deadline for applications is October 1 each year. Since the researchers at IFAU are mainly economists, researchers from other disciplines are encouraged to apply for funding.IFAU is run by a Director-General. The institute has a scientific council, consisting of a chairman, the Director-General and five other members. Among other things, the scientific council proposes a decision for the allocation of research grants. A reference group including representatives for employer organizations and trade unions, as well as the ministries and authorities concerned is also connected to the institute. Papers published in the Working Paper Series should, according to the IFAU policy, have been discussed at seminars held at IFAU and at least one other academic forum, and have been read by one external and one internal referee. They need not, however, have undergone the standard scrutiny for publication in a scientific journal. The purpose of the Working Paper Series is to provide a factual basis for public policy and the public policy discussion. AbstractThis paper analyses if privatisation of vocational rehabilitation can improve labour market opportunities for individuals on long-term sickness absence. We use a field experiment performed by the Employment Service and the Social Insurance Agency in Sweden during 2008 to 2010, in which over 4,000 participants were randomly offered private and public rehabilitation. We find no differences in employment rates following rehabilitation between individuals who received rehabilitation by private and public providers. Also the average cost of rehabilitation was essentially equal for the two types of providers. This suggests that there are no large efficiency gains from privatising vocational rehabilitation.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Does privatisation of vocational rehabilitation improve labour market opportunities? Evidence from a field experiment in Sweden

Laun

Thoursie

2014

Journal of Health Economics

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“…PRT studies the role of firm boundaries in providing incentives for making relationship-specific investments (Grossman and Hart 1986;Hart and Moore 1990). A firm is composed of assets that it owns.…”

Section: Property Rights Theorymentioning

confidence: 99%

Software-as-a-Service Model: Elaborating Client-Side Adoption Factors

Xin

Levina

2008

SSRN Journal

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“…This case relates directly to some recent papers on the theory of the …rm (see Hart & Moore (1990), Hart & Moore (1996) and Roberts & Steen (2000), where the initial members of the control group …nd it advantageous to include suppliers of …rm speci…c human capital). But the general principles operate whether we are considering externalities or suppliers of …rm-speci…c inputs.…”

Section: Resultsmentioning

confidence: 69%

“…If for some reason we assume that such a mechanism cannot be used, then the control group will be constrained to use an ine¢ cient (in the …rst best sense) mechanism. This is the central message of Bolton & Xu (1999), Hart & Moore (1990) and Roberts & Steen (2000).…”

Section: A Existence and E¢ Ciencymentioning

confidence: 75%

Externalities, Monopoly and the Objective Function of the Firm

Kelsey

Milne

2004

SSRN Journal

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This paper provides a theory of general equilibrium with externalities and/or monopoly. We assume that the …rm's decisions are based on the preferences of shareholders and/or other stakeholders. Under these assumptions a …rm will produce fewer negative externalities than the comparable pro…t maximising …rm.In the absence of externalities, equilibrium with a monopoly will be Pareto e¢ -cient if the …rm can price discriminate. The equilibrium can be implemented by a 2-part tari¤.

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Property Rights and the Nature of the Firm

Cited by 4,210 publications

References 18 publications

Does privatisation of vocational rehabilitation improve labour market opportunities? Evidence from a field experiment in Sweden

Does privatisation of vocational rehabilitation improve labour market opportunities? Evidence from a field experiment in Sweden

Software-as-a-Service Model: Elaborating Client-Side Adoption Factors

Externalities, Monopoly and the Objective Function of the Firm

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