The Maschler Perles Solution is the unique bargaining solution which is superadditive and satisfies the usual covariance properties. We provide two proofs for supperadditivity that do not rely on the standard traveling time.

The present note examines the effect of minimum wage noncompliance on the sub-minimum wage rate in a competitive labor market. The note shows that noncompliance shifts leftward the demand curve of labor and shifts rightward the supply curve of labor, unambiguously leading to a fall in the...

The Maschler Perles Solution is the unique bargaining solution which is superadditive and satisfies the usual covariance properties. We provide two proofs for supperadditivity that do not rely on the standard traveling time.

The present note examines the effect of minimum wage noncompliance on the sub-minimum wage rate in a competitive labor market. The note shows that noncompliance shifts leftward the demand curve of labor and shifts rightward the supply curve of labor, unambiguously leading to a fall in the...