- The Nash Bargaining Solution Under Fixed Labor Supply

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- The Nash Bargaining Solution Under Fixed Labor Supply

Author Info

Mª Cristina Pita Yañez () (Universidad de Salamanca)
Ramón José Torregrosa Montaner () (Universidad de Salamanca)

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Ramon Torregrosa

Abstract

Since 1950 Nash solution has been applied to solve most bargaining problems in the field of Labor Economics. In the present paper we show that this solution might not be appropriateunder uncertainty over the state of nature and a fixed labor supply due to the non-fulfilment of the concavity axiom. Desde 1950 la solución propuesta por Nash ha sido aplicada mecánicamente en la mayor parte de los problemas de negociación que se plantean en Economía Laboral. En este trabajo demostramos que la solución de Nash no debe utilizarse en aquellas situaciones en las que existe un número de trabajadores fijo e incertidumbre sobre el estado de la naturaleza debido al incumplimiento del, frecuentemente ignorado, axioma de concavidad.

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Publisher Info
Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1999-05.

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Length: 17 pages
Date of creation: Mar 1999
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1999-05

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Find related papers by JEL classification:
J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General

References listed on IDEAS
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Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April. [Downloadable!] (restricted)
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. [Downloadable!] (restricted)

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