Politicians and Firms
构建了一个政治家与经理人之间的讨价还价模型，解释了国有企业行为、商业化及私有化的典型事实，并分析了补贴与贿赂的产生机制，对理解国企改革有参考价值。
We present a model of bargaining between politicians and managers that explains many stylized facts about the behavior of state firms, their commercialization, and privatization. Subsidies to public enterprises and bribes from managers to politicians emerge naturally in the model. We use the model and several extensions to understand why commercialization and privatization might work, and what forces contribute to effective restructuring of public enterprises. We illustrate the model using examples from several countries.