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- Title
Evolutionary Approaches to Privatisation.
- Authors
Ormerod, Paul
- 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.
- Subjects
UNITED Kingdom; PRIVATIZATION; ENDOGENEITY (Econometrics); ASSOCIATIONS, institutions, etc.; ECONOMIC history
- Publication
Economic Affairs, 2014, Vol 34, Issue 2, p156
- ISSN
0265-0665
- Publication type
Article
- DOI
10.1111/ecaf.12067