organization and regulate industrial relations to promote equity in bargaining between employers and employees and to promote … conflicts with respect to organizing, collective bargaining, and enforcing collective agreements. Elections, the requirement of … bargaining in good faith, and arbitration were advanced to replace the parties' cruder methods of resolving such conflicts …

Effective labor relations laws determine the allocation of bargaining power between the parties involved in labor … bargaining game of incomplete information. Our model explicitly includes a law component, which captures the impact of effective … labor relations laws. We conduct social welfare analysis and demonstrate that these laws reduce bargaining impasse and …