caa a22 4500 477078230 CHVBK 20180405111444.0 cr unu---uuuuu 170330e19960301xx s 000 0 eng 10.1007/BF00136520 doi (NATIONALLICENCE)springer-10.1007/BF00136520 Chen Yan Department of Economics, The University of Michigan, 48109-1220, Ann Arbor, MI, U.S.A. aut The optimal choice of privatizing state-owned enterprises: A political economic model [Elektronische Daten] [Yan Chen] We study the choices of two types of maximizing Public Servants over how far to carry privatization of industries and in what order to privatize. Two stylizations of the Public Servant's objectives are considered, a Niskanen-style Bureaucrat who maximizes a surplus budget subject to the constraint of staying in office, and a Populist who maximizes popularity/consumer welfare subject to the constraint of a balanced budget. Other things being equal, the Bureaucrat will privatize the sector (firms) with the least market power and the largest subsidy first. The Populist will adopt the same policy, if the marginal costs of products in the private sectors are not too high with respect to the marginal utilities. If the marginal costs are too high, however, the Populist will privatize the sector with the largest market power first. We also show that privatization is easier and faster in less democratic societies. Kluwer Academic Publishers, 1996 Public Choice Kluwer Academic Publishers; gopher://gopher.wkap.nl 86/3-4(1996-03-01), 223-245 0048-5829 86:3-4<223 1996 86 11127 https://doi.org/10.1007/BF00136520 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF00136520 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Chen Yan Department of Economics, The University of Michigan, 48109-1220, Ann Arbor, MI, U.S.A aut NATIONALLICENCE 773 0- Public Choice Kluwer Academic Publishers; gopher://gopher.wkap.nl/ 86/3-4(1996-03-01), 223-245 0048-5829 86:3-4<223 1996 86 11127 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer