This paper analyses the regulatory attitudes to asset valuation in the twentieth century. It focuses in particular on the US experience from <italic>Smith v Ames 169 US 466 (1898)</italic> to <italic>Federal Power Commission v Hope Natural Gas 320 US 591 (</italic><italic>1944</italic>) and on the experience in the UK in last two decades of the...

A number of papers have suggested that pro-social behaviour in the workplace may be sensitive to the institutional environment, but there is little empirical research that attempts to test this directly using data on worker behaviour. This is the aim of this paper. We show that individuals in...

Public-private partnerships (PPPs) are long-term partnerships between the public and private sectors that usually involve the private sector undertaking investment projects that traditionally have been executed (or at least financed) and owned by the public sector. This paper considers...

Whether public sector projects should be discounted at a lower rate than private sector projects is highly contentious. This paper assesses the appropriate private and public sector discount rates in the context of public private partnerships. It shows that there are powerful arguments for using...

Much of the literature on diversity assumes that individuals have an exogenous "taste for discrimination". In contrast with this approach, we build a model where preferences over the nature of one's community are derived indirectly, and arise because the composition of the community determines...

The paper considers a model of the firm in which management acts to maximize share-holder welfare (i. e. owner controlled) and bargains over wages and employment with existing workers. The main result of the paper is that the performance of owner controlled firms will be independent of the...

The aim of this paper is to assess the role of donated labour and not-for-profit (NFP) entities at the public private interface. After discussing what a NFP enterprise is and providing general background, we look at the underlying theory of NFP institutions. The fact that NFP companies are able...