Efficiency wages and bargaining
I argue that in contrast to the literature to date efficiency wage and bargaining solutions will typically be independent. If the bargained wage satisfies the efficiency wage constraint efficiency wages are irrelevant. If it does not, typically we have the efficiency wage solution and bargaining is irrelevant.
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- George A. Akerlof & Lawrence F. Katz, 1988.
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NBER Working Papers
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- Sanfey, Peter J., 1993. "On the interaction between efficiency wages and union-firm bargaining models," Economics Letters, Elsevier, vol. 41(3), pages 319-324.
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