This chapter analyzes the implications of efficient wage–employment bargaining in a closed monetary macroeconomic model … all levels of bargaining power. These induce the determination of real allocations as well as nominal prices, wages … output and employment effects under a negative general-equilibrium price feedback. Equilibria under efficient bargaining are …

The paper reports on an experiment on two-player double-auction bargaining with private values. We consider a setting … no equilibrium achieving full efficiency. In the experiment, we vary the proportion of naive traders by introducing … computerized players. We find that full efficiency is not achieved in the experiment with or without naive traders, and efficiency …

specific attention to the efficiency, sustainability, and fairness of solutions to this model. We compare and contrast both …

the total production surplus, efficient bargaining implies no efficiency loss in production. Depending on the level of ….\,e.\ bargaining power and production efficiency do not lead to temporary optimality. The dynamic evolution of money balances, prices …This paper analyzes the implications of bilateral bargaining over wages and employment between a producer and a union …