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This paper studies a strategic aspect of profit-sharing in an oligopolistic industry with a monopoly union. Whenever a uniform profit share exists in the industry, we show that a union that values the per worker remuneration positively, may have incentives to reduce industry employment,...
Persistent link: https://www.econbiz.de/10005368564
This paper explores the endogenous emergence of wage bargaining institutions in a union-oligopoly framework. Technological asymmetries among firms are shown to be the driving force for the emergence of alternative wage bargaining centralization structures that are observable in real life. As...
Persistent link: https://www.econbiz.de/10005371131
The paper explores the political economy of the "minimum-wage institution (MWI)" in an internationally integrated product market. The authors consider a two-sector Economic Union (EU) with a perfectly competitive agricultural sector and a unionized oligopolistic manufacturing sector in which...
Persistent link: https://www.econbiz.de/10005321629
We consider the learning curve in an industry with free entry and exit, and price-taking firms. A unique equilibrium exists if the fixed cost is positive. While equilibrium profits are zero, mature firms earn rents on their learning, and, if costs are convex, no firm can profitably enter after...
Persistent link: https://www.econbiz.de/10005076873
The effect of trade quotas on firms' incentive to invest in cost-reducing R&D is studied in a two-stage price-setting duopoly game. A domestic and foreign firm first choose R&D levels and then set the prices of their differentiated products in the domestic market. With a quota imposed at, or...
Persistent link: https://www.econbiz.de/10005078744
We consider the learning curve in an industry with free entry and exit and price-taking firms. A unique equilibrium exists if the fixed cost is positive. Although equilibrium profits are zero, mature firms earn rents on their learning, and if costs are convex, no firm can profitably enter after...
Persistent link: https://www.econbiz.de/10005353984
Persistent link: https://www.econbiz.de/10005143790
In this paper we study interactions between labor and product markets, in an imperfectly competitive industry with centralized wage bargaining. Firms jointly bargain with the union over wages and then compete in prices or quantities. We show that the bargained wage is independent of the firms,...
Persistent link: https://www.econbiz.de/10005146844
Persistent link: https://www.econbiz.de/10004185366
Persistent link: https://www.econbiz.de/10014634616