The Transition to Free Markets: Where to Begin Privatization
研究了私有化在产业内部和跨产业的排序问题，指出当私有制优势在于对消费者需求和成本信息更敏感时，应从不确定性最大或信息传递关键处开始，并优先私有化下游产业和需求弹性大的行业。
This essay models the sequencing of privatization within an industry and across industries. When a primary advantage of private over public ownership is more responsiveness to information about consumer demand and input costs, then privatization should begin where uncertainty or ignorance is greatest and in areas that transmit information to other agents. Privatizing middlemen has particular value when neighboring sectors are also private. If the retail sector is private, then privatization downstream usually dominates privatization upstream. Industries facing elastic demand should be privatized first when there is uncertainty about costs.