A simple macroeconomic model of a reforming socialist economy is presented with queuing in period one but market-clearing prices in period two. If queues grow longer, each household chooses to save more, not because it is 'forced' but to economize on queuing effort. For the benchmark case...

We model public-private partnershios in building and managing facilities for the provision of public services. In particular,we analyze both the desirability of bundling the building and management operations, and the optimal allocation of ownership between the public sector and private firms....

We provide a new rationale for commercial activities by non-profit organizations whose primary concern is to supply mission output. We show that investment in commercial activity may be used to insure mission output against the uncertainty of donations, though possibly at the cost of lower...

We analyze the contracting out of public service provision to private firms and compare the performance of for-profit and non-for-profit firms. We consider two alternative settings.In the first,the firm has control rights, as under the UK's Private Finance Initiative(PFI). In the second,the...