We show that in a modified Mortensen-Pissarides model the bargaining weights depend on the players' loss-aversion parameters. These weights can hence be calibrated without resorting to an assessment of players' bargaining powers, which have proved difficult to empirically establish. © 2012 Elsevier B.V.
Power or loss aversion? Reinterpreting the bargaining weights in search and matching models / Ciccarone, Giuseppe; Francesco, Giuli; Enrico, Marchetti. - In: ECONOMICS LETTERS. - ISSN 0165-1765. - STAMPA. - 118:2(2013), pp. 375-377. [10.1016/j.econlet.2012.11.034]
Power or loss aversion? Reinterpreting the bargaining weights in search and matching models
CICCARONE, Giuseppe;
2013
Abstract
We show that in a modified Mortensen-Pissarides model the bargaining weights depend on the players' loss-aversion parameters. These weights can hence be calibrated without resorting to an assessment of players' bargaining powers, which have proved difficult to empirically establish. © 2012 Elsevier B.V.File allegati a questo prodotto
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