Size Doesn't Matter! Gift Exchange in Experimental Labor Markets

Jordi Brandts, Klarita Gërxhani, Arthur Schram and Jolanda Ygosse-Battisti
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Jolanda Ygosse-Battisti: Department of Economics - Getulio Vargas Foundation

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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.

Keywords: Worker Recruitment; Gift Exchange; Experiments; Market Size; C90; J30; J40 (search for similar items in EconPapers)
Date: 2010-11-30
Note: View the original document on HAL open archive server: https://hal.science/hal-00911830
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Citations: View citations in EconPapers (2)

Published in Journal of Economic Behavior and Organization, 2010, 76 (3), pp.544. ⟨10.1016/j.jebo.2010.09.007⟩

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Journal Article: Size doesn't matter! Gift exchange in experimental labor markets (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00911830

DOI: 10.1016/j.jebo.2010.09.007

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