Product Market Cooperation,Profits and Welfare in the Presence of Labor Union |
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| Authors: | Arijit Mukherjee |
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| Affiliation: | (1) University of Nottingham and The Leverhulme Centre for Research in Globalisation and Economic Policy, Nottingham, UK;(2) School of Economics, University of Nottingham, University Park, Nottingham, NG7 2RD, UK |
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| Abstract: | It is believed that cooperation between the final goods producers hurts consumers and reduces social welfare but increases profits. We show that these results may not hold in the presence of a unionized labor market. The effects of product market cooperation on consumers, profits and social welfare may depend on the union’s disagreement utility, its bargaining power and the degree of product market cooperation. |
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