Reference-dependent preferences can explain several puzzling observations about organizational change. We introduce a dynamic model in which a loss-neutral firm bargains with loss-averse workers over organizational change and wages. We show that change is often stagnant or slow for long periods...

This paper examines the role of alternative assumptions on savings and expectations for the fixwage traverse with strong forward biased technological change. After briefly outlining the model, some peculiarities of the adjustment path under the Hicksian Q-Assumption are investigated....

Recently, integrating Transaction Cost Economic (TCE) and Resource Based View (RBV) arguments has become one of the most prominent theoretical approaches in research on business relationships. We question this dominance and strengthen an exclusive TCE perspective by recalling two of the core TCE...