Why Did Transition Economies Choose Mass Privatization?
解释转型国家为何以零价格分配国有资产（大规模私有化）并保留部分所有权，认为这是受政治可行性约束下的理性选择，可能实现收入最大化。
In many transition countries privatization has taken the form of distribution of states assets at a zero price (mass privatization), and the state has retained some ownership in many companies. We provide a rationale for these policies in terms of a political feasibility constraint, preventing sale at a negative price. The government may choose to retain some ownership in order to make the constraint bite, in effect raising its bargaining power. As a result, mass privatization may actually have been revenue-maximizing; that is, may have been rational in an economic sense, as well as in the political sense previously claimed.