Prices and Wages under Bilateral Monopoly

William Fellner

The Quarterly Journal of Economics, 1947, vol. 61, issue 4, 503-532

Abstract: Present state of the theory, 503. — Three cases, 505. — Diagrammatic presentation, 507. — Extension to labor-management relations: assumption I, 509; assumption II, 510; assumption III, 511. — Some complicating factors: supply of labor, 516; efficiency of labor, 518; discontinuities in the value product functions, 519. — Wage theory on the general equilibrium level, 520. — Reconsideration of the theory of bilateral monopoly, 523. — Institutional obstacles to movement to the contract curve, 524. — The contract curve and the concept of the "solution," 528. — The range of indeterminateness, 530.

Date: 1947
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