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Prices and Wages under Bilateral Monopoly

Author

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  • William Fellner

Abstract

Present state of the theory, 503. — Three cases, 505. — Diagrammatic presentation, 507. — Extension to labor-management relations: assumption I, 509; assumption II, 510; assumption III, 511. — Some complicating factors: supply of labor, 516; efficiency of labor, 518; discontinuities in the value product functions, 519. — Wage theory on the general equilibrium level, 520. — Reconsideration of the theory of bilateral monopoly, 523. — Institutional obstacles to movement to the contract curve, 524. — The contract curve and the concept of the "solution," 528. — The range of indeterminateness, 530.

Suggested Citation

  • William Fellner, 1947. "Prices and Wages under Bilateral Monopoly," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 61(4), pages 503-532.
    • Handle: RePEc:oup:qjecon:v:61:y:1947:i:4:p:503-532.
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    Citations

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    Cited by:

    1. Dasgupta Siddhartha & Devadoss Stephen, 2002. "Equilibrium Contracts In a Bilateral Monopoly with Unequal Bargaining Powers," International Economic Journal, Taylor & Francis Journals, vol. 16(1), pages 43-71.
    2. Laurent Linnemer, 2022. "Doubling Back on Double Marginalization," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 61(1), pages 1-19, August.
    3. Guido Caselli & Michele Costa & Flavio Delbono, 2022. "What do cooperative firms maximize, if at all? Evidence from Emilia‐Romagna in the pre‐Covid decade," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 93(4), pages 821-847, December.
    4. Marco Guerrazzi, 2021. "Wage bargaining as an optimal control problem: a dynamic version of the efficient bargaining model," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 44(1), pages 359-374, June.
    5. Oliver E. Williamson, 2010. "Transaction Cost Economics: The Natural Progression," American Economic Review, American Economic Association, vol. 100(3), pages 673-690, June.
    6. Meleshkina, Anna (Мелешкина, Анна) & Shastitko, Anastasia (Шаститко, Анастасия), 2018. "Institutional Initiative of Functioning of Firms in Conditions of a Bilateral Monopoly [Институциональная Инициатива Функционирования Фирм В Условиях Двусторонней Монополии]," Working Papers 041812, Russian Presidential Academy of National Economy and Public Administration.
    7. Jeffrey S. Zax, 1985. "Municipal Employment, Municipal Unions, and Demand for Municipal Services," NBER Working Papers 1728, National Bureau of Economic Research, Inc.
    8. James N. Dertouzos & John H. Pencavel, 1980. "Wage and Employment Determinants under Trade Unionism: The InternationalTypographical Union," NBER Working Papers 0570, National Bureau of Economic Research, Inc.
    9. Jeffrey Zax & Casey Ichniowski, 1988. "The Effects of Public Sector Unionism on Pay, Employment, Department Budgets, and Municipal Expenditures," NBER Chapters, in: When Public Sector Workers Unionize, pages 323-364, National Bureau of Economic Research, Inc.
    10. Delbono, Flavio & Lanzi, Diego & Reggiani, Carlo, 2023. "Workers’ firm in mixed duopoly," Economic Modelling, Elsevier, vol. 122(C).
    11. Nicholas Lawson, 2011. "Is Collective Bargaining Pareto Efficient? A Survey of the Literature," Journal of Labor Research, Springer, vol. 32(3), pages 282-304, September.
    12. repec:pri:indrel:dsp01cc08hf62w is not listed on IDEAS
    13. Skovsgaard, Lise & Jensen, Ida Græsted, 2018. "Recent trends in biogas value chains explained using cooperative game theory," Energy Economics, Elsevier, vol. 74(C), pages 503-522.
    14. Spulber, Daniel F., 2016. "Patent licensing and bargaining with innovative complements and substitutes," Research in Economics, Elsevier, vol. 70(4), pages 693-713.
    15. Thomas W. Ross & Ralph A. Winter, 2021. "A Canadian Perspective on Vertical Merger Policy and Guidelines," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 59(2), pages 229-253, September.
    16. Elges, Carsten, 2016. "Die Preissetzung in Unternehmenskooperationen: Erste spieltheoretische Überlegungen," Arbeitspapiere 162, University of Münster, Institute for Cooperatives.

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