We present a model of endogenous institutional change that rationalizes reforms that have taken place in the context of economic crisis and drastic political change. Most of these reforms have been initiated by powerholders, even though they have ended worse-off relative to the status quo. The...

This paper examines the implementation of various solutions in differentiable concave production economies with one privately owned input, one output, and publicly owned production technology. The public ownership solutions we focus on are the Proportional Solution (PS) and the Equal Benefit...