What is conventional arbitration how do the union and firm, Macroeconomics

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What is conventional arbitration how do the union and firm

Problem

1. What is the exit-voice hypothesis? What is the implication of this hypothesis for the observed productivity of workers in unionized firms?

2. What is conventional arbitration? What is final-offer arbitration? How do the union and firm take into account the arbitrator's behavior when deciding which wage offers to put on the table?

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Macroeconomics: What is conventional arbitration how do the union and firm

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