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Individual and Collective Wage Bargaining

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Author Info

  • Anat Levy

    (Rutgers University)

  • Lloyd Shapley

    (UCLA)

Abstract

Wage negotiation is modeled as an oceanic game. The employer and unions (if any) are atomic players, interacting with an 'ocean' of infinitesimal individual, unorganized workers. All workers are equally productive inside the firm but may differ in their outside opportunities. The 'worth' of a coalition is its achievable surplus, and the Shapley value of the c-f game thereby defined provides a plausible, equitable wage settlement. Several different levels of unionization are investigated. It is noteworthy that this approach does not introduce specific bargaining procedures; instead (like the core) it builds on cooperative possibilities present in the economic situation itself. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Paper provided by UCLA Department of Economics in its series UCLA Economics Working Papers with number 420.

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Date of creation: 01 Oct 1986
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Handle: RePEc:cla:uclawp:420

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Web page: http://www.econ.ucla.edu/

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  1. Blair, Douglas H & Crawford, David L, 1984. "Labor Union Objectives and Collective Bargaining," The Quarterly Journal of Economics, MIT Press, vol. 99(3), pages 547-66, August.
  2. Guesnerie, Roger, 1977. "Monopoly, syndicate, and shapley value: About some conjectures," Journal of Economic Theory, Elsevier, vol. 15(2), pages 235-251, August.
  3. Frank, Robert H, 1984. "Are Workers Paid Their Marginal Products?," American Economic Review, American Economic Association, vol. 74(4), pages 549-71, September.
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Cited by:
  1. Ahmet Ozkardas & Agnieszka Rusinowska, 2012. "Wage bargaining with discount rates varying in time under exogenous strike decisions," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00674033, HAL.
  2. repec:hal:journl:halshs-00674033 is not listed on IDEAS

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