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Who Benefits from Public Utilities?

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  • PETER HARTLEY
  • CHRIS TRENGOVE

Abstract

We model the determination of output, factor payments and prices within publicly owned firms, assuming the firms are managed by utility‐maximizing employees monitored by vote‐maximizing politicians. The choice of a public monopoly to supply the output is most suited to further the redistributive aims of the politicians, but will also be favoured by employees who can capture some rents.

Suggested Citation

  • Peter Hartley & Chris Trengove, 1986. "Who Benefits from Public Utilities?," The Economic Record, The Economic Society of Australia, vol. 62(2), pages 163-179, June.
    • Handle: RePEc:bla:ecorec:v:62:y:1986:i:2:p:163-179
    DOI: 10.1111/j.1475-4932.1986.tb00892.x
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    1. repec:bla:ecorec:v:60:y:1984:i:171:p:340-55 is not listed on IDEAS
    2. Niskanen, William A, 1975. "Bureaucrats and Politicians," Journal of Law and Economics, University of Chicago Press, vol. 18(3), pages 617-643, December.
    3. Denzau, Arthur T. & Mackay, Robert J., 1980. "A model of benefit and tax share discrimination by a monopoly bureau," Journal of Public Economics, Elsevier, vol. 13(3), pages 341-368, June.
    4. Peter Hartley & Chris Trengove, 1984. "The Marginal Costs of Electricity Supply in Victoria," The Economic Record, The Economic Society of Australia, vol. 60(4), pages 340-355, December.
    5. Peltzman, Sam, 1971. "Pricing in Public and Private Enterprises: Electric Utilities in the United States," Journal of Law and Economics, University of Chicago Press, vol. 14(1), pages 109-147, April.
    6. Denzau, Arthur T & Mackay, Robert J, 1980. "A Model of Benefit and Tax Share Discrimination by a Monopoly Bureau," Empirical Economics, Springer, vol. 13(3), pages 341-368, June.
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