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This paper has benefited from comments by Peter Law and anonymous referees of this journal.
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Ireland, N. Codetermination, wage bargaining and the horizon problem. Zeitschr. f. Nationalökonomie 44, 1–10 (1984). https://doi.org/10.1007/BF01283960
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DOI: https://doi.org/10.1007/BF01283960