Labour partecipation in different firm organizations, 72p.
The main issue is the organisation of firms when di¤erent degrees of labour partecipation are taken into account. We start reviewing the literature on the LM firm. We then consider a less radical labour partecipation, i.e. the Aoki firm. We survey ex-tensions of the Aoki’s firm to the case of market uncertainty, where also the question of the optimal allocation of the shut down decision is tackeld, when shareholders are not able to maximize the total payo¤ accruing to both workers and owners. By and large, it appears that the degree of labour participation to decisions and rent sharing in a firm is not a settled question, even though is seems to depend on the respective degree of firm specificities of production factors.