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Oligopsonistic Cats and Dogs

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  • Gerda Dewit

    ()

  • Dermot Leahy

    ()

Abstract

We study the strategic investment behaviour of oligopsonistic rivals in the labour market. Under wage competition, firms play "puppy dog" with productivityaugmenting investment and "fat cat" with supply-enhancing investment. Under employment competition, investing strategically always involves playing "top dog".

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File URL: http://hdl.handle.net/10.1007/s11151-009-9216-1
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Bibliographic Info

Article provided by Springer in its journal Review of Industrial Organization.

Volume (Year): 35 (2009)
Issue (Month): 3 (November)
Pages: 257-274

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Handle: RePEc:kap:revind:v:35:y:2009:i:3:p:257-274

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Web page: http://www.springerlink.com/link.asp?id=100336

Related research

Keywords: Labour productivity augmenting investment; Labour supply augmenting investment; Oligopsony; Strategic behaviour;

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References

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  1. Hwang, Hae-shin & Mortensen, Dale T & Reed, W Robert, 1998. "Hedonic Wages and Labor Market Search," Journal of Labor Economics, University of Chicago Press, vol. 16(4), pages 815-47, October.
  2. Fudenberg, Drew & Tirole, Jean, 1984. "The Fat-Cat Effect, the Puppy-Dog Ploy, and the Lean and Hungry Look," American Economic Review, American Economic Association, vol. 74(2), pages 361-66, May.
  3. D Leahy & J.P. Neary, 1998. "Strategic Trade and Industrial PolicyTowards Dynamic Oligopolies," CEP Discussion Papers dp0409, Centre for Economic Performance, LSE.
  4. Bhaskar, V & To, Ted, 1999. "Minimum Wages for Ronald McDonald Monopsonies: A Theory of Monopsonistic Competition," Economic Journal, Royal Economic Society, vol. 109(455), pages 190-203, April.
  5. Manning, Alan, 2004. "Monopsony and the efficiency of labour market interventions," Labour Economics, Elsevier, vol. 11(2), pages 145-163, April.
  6. Lapham, Beverly & Ware, Roger, 1994. "Markov puppy dogs and related animals," International Journal of Industrial Organization, Elsevier, vol. 12(4), pages 569-593, December.
  7. Bhaskar, V. & To, Ted, 2003. "Oligopsony and the distribution of wages," European Economic Review, Elsevier, vol. 47(2), pages 371-399, April.
  8. Joseph Francois & Ian Wooton, 2000. "Trade in International Transport Services: The Role of Competition," Tinbergen Institute Discussion Papers 00-057/2, Tinbergen Institute.
  9. Brander, James A., 1995. "Strategic trade policy," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 27, pages 1395-1455 Elsevier.
  10. Alan Manning, 2001. "A Generalised Model of Monopsony," CEP Discussion Papers dp0499, Centre for Economic Performance, LSE.
  11. Alan Manning & Ted To, 2002. "Oligopsony and Monopsonistic Competition in Labor Markets," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 155-174, Spring.
  12. Jun, Byoung & Vives, Xavier, 2004. "Strategic incentives in dynamic duopoly," Journal of Economic Theory, Elsevier, vol. 116(2), pages 249-281, June.
  13. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June.
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Cited by:
  1. COCCORESE, Paolo, 2011. "Banks as ‘fat cats’: Branching and Price Decisions in a Two-Stage Model of Competition," CELPE Discussion Papers 118, CELPE - Centre of Labour Economics and Economic Policy, University of Salerno, Italy.
  2. Domenico Tabasso, 2011. "Temporary Contract and Monopsony Power in the UK Labour Market," Melbourne Institute Working Paper Series wp2011n16, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.

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