W age B argaining in I ndustries with M arket P ower

Abstract

We develop a game‐theoretic version of theright‐to‐managemodel of firm‐level bargaining where strategic interactions among firms are explicitly recognized. Our main aim is to investigate how equilibrium wages and employment react to changes in various labor and product market variables. We show that our comparative statics results hinge crucially on the strategic nature of the game, which in turn is determined by the relative bargaining power of unions and managers.

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