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Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers.
[9] The neoclassical growth model provides an account of how the distribution of income between capital and labor is determined in competitive markets at the macroeconomic level over time with technological change and changes in the size of the capital stock and labor force. [10]
The more value they have created, the easier this will be, [16] but research suggests that parties default very easily into positional bargaining when they try to finalize details of agreements. [17] Parties should divide value by finding objective criteria that all parties can use to justify their “fair share” of the value created.
It all began in the summer. The Big Three had been preparing for negotiations with the UAW ahead of the expiration of the union’s collective bargaining agreement in mid-September.
The Nash bargaining game is a simple two-player game used to model bargaining interactions. In the Nash bargaining game, two players demand a portion of some good (usually some amount of money). If the total amount requested by the players is less than that available, both players get their request.
Specific rules in support of collective bargaining are as follows. There can be only one exclusive bargaining representative for a unit of employees. Promotion of the practice and procedure of collective bargaining. Employers are compelled to bargain with the representative of its employees. Employees are allowed to discuss wages. [8] [9] [10]
To discourage employers from breaking away from the bargaining group, unions developed the whipsaw strike. In a whipsaw strike, the union strikes one employer (or just a few employers) in the multi-employer bargaining group. The strike is usually of a short duration (a few days or a week at most). The union strikes employer after employer.
Blau (1964), [6] and Emerson (1976) [7] were the key theorists who developed the original theories of social exchange. Social exchange theory approaches bargaining power from a sociological perspective, suggesting that power dynamics in negotiations are influenced by the value of the resources each party brings to the exchange (a cost-benefit analysis), as well as the level of dependency ...