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Author | : |
Publisher | : Deutscher Universitätsverlag |
Total Pages | : 0 |
Release | : 1998-07-15 |
Genre | : Business & Economics |
ISBN | : 9783824467778 |
Download Large-scale Privatization via Auctions Book in PDF, ePub and Kindle
On the basis of a game-theoretic framework of analysis, Jocelyn Braun shows that the mechanism of auctioning is an efficient and equitable alternative to many privatization methods that have so far been implemented with disappointing results.
Author | : Jan Boone |
Publisher | : |
Total Pages | : |
Release | : 2005 |
Genre | : |
ISBN | : |
Download Optimal Privatization Using Qualifying Auctions Book in PDF, ePub and Kindle
Author | : Bernardo Bortolotti |
Publisher | : |
Total Pages | : 0 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Privatization, Large Shareholders, and Sequential Auctions of Shares Book in PDF, ePub and Kindle
We study the government's decision to sell a state-owned enterprise to strategic investors in a common value auction setting. The government can choose to sell his control stake all at once, or to design a sequential auction of shares. The sequential auction allows information transmission, so that the winner of the first stake receives a signal about the value of control rights which will be sold at the second and final auction. We show that if bidders are symmetric, the sequential auction and the block auction are revenue equivalent. If instead one of the bidders has private information, the sequential auction is more profitable for the government. By disseminating information, the sequential auction forces the informed bidder to bid more aggressively, raising expected revenues.
Author | : Peter Harsany |
Publisher | : |
Total Pages | : 2 |
Release | : 1991 |
Genre | : Privatization |
ISBN | : |
Download Privatization Via Bonds and Auctions in Hungary Book in PDF, ePub and Kindle
Author | : Ms.Katrin Elborgh-Woytek |
Publisher | : International Monetary Fund |
Total Pages | : 23 |
Release | : 2002-05-01 |
Genre | : Business & Economics |
ISBN | : 1451971621 |
Download Privatization in Ukraine Book in PDF, ePub and Kindle
The paper examines the recent privatization experience in Ukraine in the context of the streamlining of Fund structural conditionality. A particular focus is the shift from privatization-related conditionality based on quantitative targets to conditionality aimed at strengthening privatization procedures. The paper examines how this shift was managed in Ukraine and discusses the challenges of applying conditionality to privatization procedures and the implications for country ownership.
Author | : June G. Hopps |
Publisher | : Bloomsbury Publishing USA |
Total Pages | : 224 |
Release | : 1998-08-27 |
Genre | : Education |
ISBN | : 0313022259 |
Download Privatization in Central and Eastern Europe Book in PDF, ePub and Kindle
Central and Eastern European countries are facing the transition from central to market systems with different strategies and capacities. As the task of societal transformation is without precedent in world history, the massive economic restructuring has revealed the need for distributive justice and general well-being. As the editors and contributors to this volume point out, the monolithic preoccupation with economic restructuring in a market economics framework is implemented at the expense of social protection and security. In contrast to traditional views of privatization as only an economic or managerial phenomenon, this collection approaches privatization as a broader integrated process of societal transformation. Privatization as defined here consists of integrated processes of societal restructuring that affect sociopolitical, economic, and ideological constructs as well as human and physical capital development, transformation of family structures, market stabilization, and organization of social care. Public policymakers as well as scholars and researchers of contemporary Eastern Europe will find this collection of great interest, and an important challenge to the economic models of privatization which undervalue social costs.
Author | : Stuart Bell |
Publisher | : World Bank Publications |
Total Pages | : 44 |
Release | : 1995-01-01 |
Genre | : Business & Economics |
ISBN | : 9780821332306 |
Download Sharing the Wealth Book in PDF, ePub and Kindle
World Bank Discussion Paper No. 285. Privatization typically involves a fundamental shift of economic power, always from the state to the private sector and sometimes from domestic to foreign owners. This usually causes political conflict and invol
Author | : Maxim Boycko |
Publisher | : MIT Press |
Total Pages | : 180 |
Release | : 1997-01-22 |
Genre | : Business & Economics |
ISBN | : 9780262522281 |
Download Privatizing Russia Book in PDF, ePub and Kindle
Privatizing Russia offers an inside look at one of the most remarkable reforms in recent history. Having started on the back burner of Russian politics in the fall of 1991, mass privatization was completed on July 1, 1994, with two thirds of the Russian industry privately owned, a rapidly rising stock market, and 40 million Russians owning company shares. The authors, all key participants in the reform effort, describe the events and the ideas driving privatization. They argue that successful reformers must recognize privatization as a process of depoliticizing firms in the face of massive opposition: making the firm responsive to market rather than political influences. The authors first review the economic theory of property rights, identifying the political influence on firms as the fundamental failure of property rights under socialism. They detail the process of coalition building and compromise that ultmately shaped privatization. The main elements of the Russian program -- corporatization, voucher use, and voucher auctions -- are described, as is the responsiveness of privatized firms to outside investors. Finally, the market values of privatized assets are assessed for indications of how much progress the country has made toward reforming its economy. In many respects, privatization has been a great success. Market concepts of property ownership and corporate management are shaking up Russian firms at a breathtaking pace, creating powerful economic and political stimuli for continuation of market reforms. At the same time, the authors caution, the political landscape remains treacherous as old-line politicians reluctantly cede their property rights and authority over firms.
Author | : Mr.Eduardo Borensztein |
Publisher | : International Monetary Fund |
Total Pages | : 28 |
Release | : 1991-04-01 |
Genre | : Business & Economics |
ISBN | : 1451977905 |
Download Proposals for Privatization in Eastern Europe Book in PDF, ePub and Kindle
This paper discusses several proposals for a wholesale privatization of public enterprises in Eastern Europe. These proposals include the distribution of ”vouchers” to private citizens as well as the use of mutual funds, privatization companies and other forms of financial intermediaries. The paper analyzes the implications for economic efficiency of the different forms of ownership and control that would emerge from the proposals as well as their main macroeconomic consequences.
Author | : Paul Milgrom |
Publisher | : Cambridge University Press |
Total Pages | : 378 |
Release | : 2004-01-12 |
Genre | : Business & Economics |
ISBN | : 1139449168 |
Download Putting Auction Theory to Work Book in PDF, ePub and Kindle
This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.