Information, bilateral negotiations, and worker recruitment

This paper studies experimentally how firms choose between using a centralized market and bilateral negotiations to recruit new personnel. In the market firms interact with several workers but do not have information about workers’ behavior in the past. In the bilateral negotiations firms negotiate bilaterally with prospective workers and learn about workers’ performance in previous jobs. We show that the interaction between social preferences, the incompleteness of contracts and the existence of information about a worker’s past performance provides an explanation for firms forgoing market opportunities and bilaterally negotiating with a worker. We observe that approximately 30% of all job contracts were bilaterally negotiated when these contracts are incomplete as opposed to only 10% when contracts were complete. The surplus from trade is higher when incomplete contracts can be bilaterally negotiated, which can be attributed to the presence of information.     

The emergence of winemaking cooperatives in Catalonia

This article traces the emergence of winemaking cooperatives in Catalonia, one of southern Europe’s main winegrowing regions. It analyses the stimuli that led to the creation of winemaking cooperatives in the early twentieth century and the difficulties that they faced in a depressed wine market, such as financing the construction of winemaking facilities, the governance and organisation of cooperative services, and marketing their produce. I explore the reasons why many more wine cooperatives were created in Catalonia in early twentieth century than in Spain’s other winegrowing regions and I try to identify the obstacles that hindered their further development.     

Modern Perspectives on Fiscal Stabilization Policies

The present paper describes recent research on two central themesof Keynes' General Theory: (i) the social waste associated withrecessions, and (ii) the effectiveness of fiscal policy as astabilization tool. The paper also discusses some evidence onthe extent to which fiscal policy has been used as a stabilizingtool in industrial economies over the past two decades. (JELE32, E63)     

Reliable entertainment: Spanish consumers' preferences regarding a film's country of origin

• This article contributes to the study of cinema audiences in Europe by analyzing the actual behavior of Spanish moviegoers and their level of satisfaction. We modeled moviegoers' choice of film by country of origin (U.S.A., Spain, and other countries) according to a set of determinants: (1) consumers' interpretation of several sources of information, (2) motivations and (3) choice rules. We found three clear consumer stereotypes related to each type of film: (1) U.S.A. films were preferred by almost everyone (especially families and younger audiences); (2) Spanish films had audiences composed of middle-age and middle-class moviegoers; and (3) European productions were preferred by a social or intellectual elite. U.S.A. films dominate the Spanish market for the reason that they provide most of what moviegoers prefer, namely, familiar, reliable entertainment in Spanish; three characteristics that are not satisfied by Spanish and European films. Additionally, we discuss the implications for the European cultural policy.

Copyright © 2007 John Wiley & Sons, Ltd.     

Deliberative structures and their impact on voting under economic conflict

Experimental Economics - We conduct a laboratory experiment to investigate how different deliberative structures of varying inclusiveness affect collective decisions in the presence of economic...