Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322930 
Year of Publication: 
2015
Series/Report no.: 
U.S.E. Discussion Papers Series No. 15-04
Publisher: 
Utrecht University, Utrecht School of Economics, Tjalling C. Koopmans Research Institute, Utrecht
Abstract: 
Given a range of market failures that persist in the present-day capitalist firm, we explore a novel argument of why the alternative of the labor managed firm is largely absent and argue public intervention should primarily be aimed at the start-up phase of labor managed firms rather than providing permanent tax subsidies. We derive the crucial condition for the emergence of labor managed firms, and show that this condition is unduly restrictive from an efficiency point of view.
Subjects: 
labor managed firm
profit sharing
ESOP
game theory
Document Type: 
Working Paper

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