期刊名称：GREQAM Documents de Travail / Groupement de Recherche en Economie Quantitative d'Aix-Marseille
出版年度：1996
摘要：The recent large scale privatisation in East and Central Europe has resulted in a substantial transfer to ownership by employees, who now have a controlling stake of shares in many enterprises. However, the received theory of such, employee controlled, firms cites three fundamental defects linked to their short-run behaviour : the insensitivity to the supply price of labour or to changes in the spot market wage ; the inefficient utilisation of employed labour ; the perverse, negative employment and supply response to variations in the product price. The paper proposes a simple mechanism, also applicable to certain models of internal bargaining, that induces firms to eliminate practically all efficiency losses and to react normally to changes in exogeneous variables. The amount of information required both to construct and operate the scheme is small.
