Choi, Kangsik - Volkswirtschaftliche Fakultät, … - 2010
private firm, including endogenous imposition of the budget constraint on the public firm. Thus, we show that if the public … firm's inefficiency is sufficiently small, no imposition of budget constraint is more likely to improve welfare and vice … versa. Moreover, we suggest that in either budget constraint or non-budget constraint, the wages of the public firm can be …