Optimal mechanism in governmental project screening: A theory of Kornai's soft budget constraint
Soft budget constraint refers to the phenomenon that money losing inefficient projects keep on getting subsidies and operating. It was first phrased and analyzed by the late Hungarian economist Janos Kornai when he studied former socialist economies and by now, economists generally have agreed that...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2022-01-01
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| Series: | Journal of Government and Economics |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667319322000209 |