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Uniqueness of stationary equilibria in bargaining one-dimensional policies under (super) majority rules

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Author Info

  • Cardona, Daniel
  • Ponsati, Clara

Abstract

We consider negotiations selecting one-dimensional policies. Individuals have instantaneous preferences represented by continuous, concave and single-peaked utility functions, and they are impatient. Decisions arise from a bargaining game with random proposers and (super) majority approval, ranging from the simple majority up to unanimity. We provide sufficient conditions that guarantee the existence of a unique stationary subgame perfect equilibrium, and we provide its explicit characterization. The uniqueness of the equilibrium permits an analysis of the set of Pareto optimal voting rules. For symmetric distributions of peaks and uniform recognition probabilities unanimity is the unanimously preferred majority rule.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 73 (2011)
Issue (Month): 1 (September)
Pages: 65-75

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Handle: RePEc:eee:gamebe:v:73:y:2011:i:1:p:65-75

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Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: One-dimensional bargaining Single-peaked preferences Pareto optimality Quota rules;

References

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  1. Cho, Seok-ju & Duggan, John, 2009. "Bargaining foundations of the median voter theorem," Journal of Economic Theory, Elsevier, vol. 144(2), pages 851-868, March.
  2. Banks, Jeffrey S. & Duggan, John, 2006. "A General Bargaining Model of Legislative Policy-making," International Quarterly Journal of Political Science, now publishers, vol. 1(1), pages 49-85, January.
  3. Jackson, Matthew O. & Moselle, Boaz, 2002. "Coalition and Party Formation in a Legislative Voting Game," Journal of Economic Theory, Elsevier, vol. 103(1), pages 49-87, March.
  4. Eraslan, H. & Merlo, A., 2000. "Majority Rule in a Stochastic Model of Bargaining," Working Papers 00-05, C.V. Starr Center for Applied Economics, New York University.
  5. Caplin, Andrew S & Nalebuff, Barry J, 1988. "On 64%-Majority Rule," Econometrica, Econometric Society, vol. 56(4), pages 787-814, July.
  6. Cardona, Daniel & Ponsati, Clara, 2007. "Bargaining one-dimensional social choices," Journal of Economic Theory, Elsevier, vol. 137(1), pages 627-651, November.
  7. Greenberg, Joseph, 1979. "Consistent Majority Rules over Compact Sets of Alternatives," Econometrica, Econometric Society, vol. 47(3), pages 627-36, May.
  8. Tasos Kalandrakis, 2004. "Proposal Rights and Political Power," Wallis Working Papers WP38, University of Rochester - Wallis Institute of Political Economy.
  9. Seok-ju Cho & John Duggan, 2001. "Uniqueness of Stationary Equilibria in a one-Dimensional Model of Bargaining," Wallis Working Papers WP23, University of Rochester - Wallis Institute of Political Economy.
  10. Predtetchinski, Arkadi, 2011. "One-dimensional bargaining," Games and Economic Behavior, Elsevier, vol. 72(2), pages 526-543, June.
  11. Sam Bucovetsky, 2003. "The optimal majority with an endogenous status quo," Social Choice and Welfare, Springer, vol. 21(1), pages 131-148, 08.
  12. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-99, March.
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Citations

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Cited by:
  1. Le Breton, Michel & Thomas, Alban & Zaporozhets, Vera, 2012. "Bargaining in River Basin Committees: Rules Versus Discretion," TSE Working Papers 12-324, Toulouse School of Economics (TSE).
  2. Daniel Cardona & Clara Ponsatí, 2013. "Super-majorites and collective surplus in one-dimensional bargaining: Numerical simulations," Economics Bulletin, AccessEcon, vol. 33(1), pages 278-288.
  3. Daniel Cardona & Arnold Polanski, 2013. "Voting rules and efficiency in one-dimensional bargaining games with endogenous protocol," Social Choice and Welfare, Springer, vol. 41(2), pages 217-240, July.

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