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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NBER Working Papers
1906, National Bureau of Economic Research, Inc.
- Andrew J. Oswald, 1984.
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555, Princeton University, Department of Economics, Industrial Relations Section..
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- Machin, Stephen & Manning, Alan, 1992. "Testing Dynamic Models of Worker Effort," Journal of Labor Economics, University of Chicago Press, vol. 10(3), pages 288-305, July.
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