This paper explores the sources of bargaining power in wage negotiations, and examines how productivity and training affect wages. In the standard analyses of wage bargaining, the negotiating partners are specified a priori, and thus it is impossible to address the question of how they achieve...

Obstfeld (1994) shows that a currency crisis can be explained by the occurrence of multiple equi-libria (2 interior equilibria). For the same level of economic fundamentals, it may be optimal forthe government either to devalue or to maintain the peg. The decision depends on the...

Der Konsument sieht sich im zunehmenden Maße mit einer großen Produktvielfalt, einer allgemeinen Homogenisierung der Produkte und einer ständigen Informationsüberflutung konfrontiert. Zur leichteren Orientierung werden aus dem großen Bündel an Produktinformationen, einzelne...

A vast body of knowledge exists with regards to the attitudes involved in the consumption of luxury brands. The purchase of products for their symbolic and social value rather than for their inherent utility in now widely recognised as a significant determinant of consumer behaviour (Mason...