Engelmann, Dirk (contributor); Kübler, Dorothea (contributor) - 2008
In order to address the impact of regulation on ethical concerns of consumers, we study the effect of a minimum wage …. In our experimental market, consumers have monopsony power, firms engage in Bertrand competition, and workers are passive … treatments, wages decrease over time in the first part even though some consumers show an interest in fair wages. If a minimum …