Goerke, Laszlo ; Neugart, Michael (2023)
Social preferences, monopsony and government intervention.
In: Canadian Journal of Economics/Revue canadienne d'économique, 2021, 54 (2)
doi: 10.26083/tuprints-00020988
Article, Secondary publication, Publisher's Version
Text
CAJE_CAJE12515.pdf Copyright Information: CC BY 4.0 International - Creative Commons, Attribution. Download (310kB) |
Item Type: | Article | ||||
---|---|---|---|---|---|
Type of entry: | Secondary publication | ||||
Title: | Social preferences, monopsony and government intervention | ||||
Language: | English | ||||
Date: | 11 December 2023 | ||||
Place of Publication: | Darmstadt | ||||
Year of primary publication: | 2021 | ||||
Place of primary publication: | Oxford | ||||
Publisher: | Wiley-Blackwell | ||||
Journal or Publication Title: | Canadian Journal of Economics/Revue canadienne d'économique | ||||
Volume of the journal: | 54 | ||||
Issue Number: | 2 | ||||
DOI: | 10.26083/tuprints-00020988 | ||||
Corresponding Links: | |||||
Origin: | Secondary publication DeepGreen | ||||
Abstract: | Monopsony power by firms and social preferences by consumers are well established. We analyze how wages and employment change in a monopsony if workers compare their income with that of a reference group. We show that the undistorted, competitive outcome may no longer constitute the benchmark for welfare comparisons and derive a condition that guarantees that the monopsony distortion is exactly balanced by the impact of social comparisons. We also demonstrate how wage restrictions and subsidies or taxes can be used to ensure this condition, both for a welfarist and a paternalistic welfare objective. |
||||
Alternative Abstract: |
|
||||
Status: | Publisher's Version | ||||
URN: | urn:nbn:de:tuda-tuprints-209884 | ||||
Additional Information: | JEL classification: D10, H21, J30, J42 |
||||
Classification DDC: | 300 Social sciences > 330 Economics | ||||
Divisions: | 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > Fachgebiet Finanzwissenschaft und Wirtschaftspolitik | ||||
Date Deposited: | 11 Dec 2023 14:03 | ||||
Last Modified: | 26 Feb 2024 09:16 | ||||
SWORD Depositor: | Deep Green | ||||
URI: | https://tuprints.ulb.tu-darmstadt.de/id/eprint/20988 | ||||
PPN: | 515771309 | ||||
Export: |
View Item |