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post bargaining, the equilibrium is always inefficient: recognizing that capital intensive production relations have to pay … higher wages, firms reduce their investments. This can only be prevented by removing all the bargaining power from the … benchmark, we show that efficiency is achieved when firms post wages and workers can direct their search towards more attractive …
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by a draw from an Ellsberg urn. In a within-subject experiment, subjects make decisions in three different bargaining … mechanisms: unstructured bargaining, the Texas shoot-out, and a K + 1 auction. We find that the K +1 auction is the most e¢ cient … mechanism, which is in line with theory. Free format bargaining yields a surprising number of disagreements, which are not …
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This paper experimentally tests the relation between subjects' competitiveness and bargaining behavior. Bargaining is … establish a link between competitiveness and bargaining as suggested by social and evolutionary psychology. Thus, we identify … one driver of the empirical heterogeneity of bargaining behavior and outcomes. From a management perspective our findings …
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