Size doesn't matter! Gift exchange in experimental labor markets

Jordi Brandts; Klarita Gërxhani; Arthur Schram; Jolanda Ygosse-Battisti

doi:10.1016/j.jebo.2010.09.007

Size doesn't matter! Gift exchange in experimental labor markets

Jordi Brandts, Klarita Gërxhani, Arthur Schram, Jolanda Ygosse-Battisti

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Resum

We study how the number of traders affects the interaction between a centralized exchange and bilateral negotiations in an experimental labor market with excess supply and incomplete contracts. Our large markets are three times as large as our small markets. In bilateral negotiations firms obtain information about employees' performance in previous jobs. Though market forces put a downward pressure on wages in large markets, reciprocal tendencies do not differ. Hence, the occurrence of bilateral negotiations increases overall efficiency for both market sizes. © 2010 Elsevier B.V.

Idioma original	English
Pàgines (de-a)	544-548
Revista	Journal of Economic Behavior and Organization
Volum	76
Número	3
DOIs	https://doi.org/10.1016/j.jebo.2010.09.007
Estat de la publicació	Publicada - 1 de gen. 2010

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10.1016/j.jebo.2010.09.007

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title = "Size doesn't matter! Gift exchange in experimental labor markets",

abstract = "We study how the number of traders affects the interaction between a centralized exchange and bilateral negotiations in an experimental labor market with excess supply and incomplete contracts. Our large markets are three times as large as our small markets. In bilateral negotiations firms obtain information about employees' performance in previous jobs. Though market forces put a downward pressure on wages in large markets, reciprocal tendencies do not differ. Hence, the occurrence of bilateral negotiations increases overall efficiency for both market sizes. {\textcopyright} 2010 Elsevier B.V.",

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AU - Gërxhani, Klarita

AU - Schram, Arthur

AU - Ygosse-Battisti, Jolanda

PY - 2010/1/1

Y1 - 2010/1/1

N2 - We study how the number of traders affects the interaction between a centralized exchange and bilateral negotiations in an experimental labor market with excess supply and incomplete contracts. Our large markets are three times as large as our small markets. In bilateral negotiations firms obtain information about employees' performance in previous jobs. Though market forces put a downward pressure on wages in large markets, reciprocal tendencies do not differ. Hence, the occurrence of bilateral negotiations increases overall efficiency for both market sizes. © 2010 Elsevier B.V.

AB - We study how the number of traders affects the interaction between a centralized exchange and bilateral negotiations in an experimental labor market with excess supply and incomplete contracts. Our large markets are three times as large as our small markets. In bilateral negotiations firms obtain information about employees' performance in previous jobs. Though market forces put a downward pressure on wages in large markets, reciprocal tendencies do not differ. Hence, the occurrence of bilateral negotiations increases overall efficiency for both market sizes. © 2010 Elsevier B.V.

KW - Experiments

KW - Gift exchange

KW - Market size

KW - Worker recruitment

U2 - 10.1016/j.jebo.2010.09.007

DO - 10.1016/j.jebo.2010.09.007

M3 - Article

SN - 0167-2681

VL - 76

SP - 544

EP - 548

JO - Journal of Economic Behavior and Organization

JF - Journal of Economic Behavior and Organization

IS - 3

ER -

Size doesn't matter! Gift exchange in experimental labor markets

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