Regulation with wage bargaining
研究在工资由企业层面谈判决定时，最优规制如何设计。结论是当工人议价能力较强时，成本效率激励应强于标准情形。
In many regulated industries labour unions are strong and there is clear empirical evidence of labour rent‐sharing. In this paper, we study optimal regulation in a model in which wages are determined endogenously by wage bargaining at the firm level. A seemingly robust conclusion, at least when worker bargaining power is considerable, is that incentives for cost efficiency should be stronger than in the standard case in which wages do not depend on the regulatory regime.