This paper addresses the design of the machinery of collective bargaining from the perspective of microeconomic and macroeconomic flexibility. In the former context, somewhat greater attention is given over to enterprise flexibility than external adjustment. In the latter context, close attention is also paid to changes in collective bargaining along the dimensions of bargaining coverage, struc...

Roth (1977) axiomatized the Nash (1950) bargaining solution without Pareto optimality. His result is considered an improvement on Nash’s original one, since it dispenses with notions of collective rationality. Several variants of Roth’s result have been obtained in a line of subsequent works. However, all of them rely on Nash’s (1950) independence axiom. Whether or how collective rationality ca...