Hicks Bargaining Model:

 The Hicks bargaining model stresses on the length and costs of work stoppages. Hicks proposed that union and management negotiators balance the costs and benefits of a work stoppage when making concessions at the bargaining table. Each side makes concessions to avoid a work stoppage. The core idea is that there is a functional relation between the wage that one or the other party will accept and the length of strike that would be necessary to establish that wage. There is a particular wage that the employer would prefer if the union were not in the picture. He will concede more, however, in order to avoid a strike and up to a point, his concessions will rise with the length of strike he anticipates. A primary difference between the Hicks model and bargaining range theory is that the Hicks model pinpoints a precise wage settlement while the range theory does not.