bargaining theory of wages

Definitions

Economics

  • noun the theory behind collective bargaining, that an agreement should be reached which is acceptable to both management and workers, and which is not detrimental to the overall profitability of the company

Human Resources

  • noun a theory which states that the relative bargaining power of the employers and employees will decide wage levels
http://www.dictionarycentral.com/definition/bargaining-theory-of-wages.html