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Monopoly Agenda Control and Asymmetric Information

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  • Jeffrey S. Banks

Abstract

This paper extends the Romer-Rosenthal [1978, 1979] model of monopoly agenda control to an environment where only the agenda setter knows with certainty the outcome associated with a failed proposal. The presence of this asymmetric information implies that any "take-it-or-leave-it" proposal may provide information crucial to the decision calculus of the voters, a fact which an optimal proposal strategy will incorporate. The equilibrium behavior of the agenda setter and voters is characterized and contrasted with that in the complete information environment, and a number of empirical predictions concerning the nature of elections with monopoly controlled agendas are derived.

Suggested Citation

  • Jeffrey S. Banks, 1990. "Monopoly Agenda Control and Asymmetric Information," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(2), pages 445-464.
    • Handle: RePEc:oup:qjecon:v:105:y:1990:i:2:p:445-464.
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    File URL: http://hdl.handle.net/10.2307/2937795
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    Cited by:

    1. Mike Burkart & Samuel Lee, 2016. "Smart Buyers," Review of Corporate Finance Studies, Oxford University Press, vol. 5(2), pages 239-270.
    2. Dimitrios Xefteris, 2011. "Referenda as a Catch-22," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(1), pages 121-138, June.
    3. Rosenthal, Howard & Zame, William R., 2022. "Sequential referenda with sophisticated voters," Journal of Public Economics, Elsevier, vol. 212(C).
    4. Robin Boadway & Motohiro Sato, 2008. "Bureaucratic Advice and Political Governance," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(4), pages 503-527, August.
    5. Helen V. Milner & B. Peter Rosendorff, 1996. "Trade Negotiations, Information And Domestic Politics: The Role Of Domestic Groups," Economics and Politics, Wiley Blackwell, vol. 8(2), pages 145-189, July.
    6. Cukierman, Alex & Tommasi, Mariano, 1998. "When Does It Take a Nixon to Go to China?," American Economic Review, American Economic Association, vol. 88(1), pages 180-197, March.
    7. Alejandro Saporiti & Fernando Tohmé, 2001. "Order-restricted preferences and strategy-proof social choices rules," CEMA Working Papers: Serie Documentos de Trabajo. 191, Universidad del CEMA.
    8. Burkart, Mike & Lee, Samuel, 2012. "Smart buyers," LSE Research Online Documents on Economics 119056, London School of Economics and Political Science, LSE Library.
    9. Rosen Valchev & Antony Davies, 2009. "Transparency, Performance, and Agency Budgets: A Rational Expectations Modeling Approach," Working Papers 2009-004, The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting.
    10. Lee Epstein & Olga Shvetsova, 2002. "Heresthetical Maneuvering on the US Supreme Court," Journal of Theoretical Politics, , vol. 14(1), pages 93-122, January.
    11. Jaehoon Kim & Lawrence S. Rothenberg, 2008. "Foundations of Legislative Organization and Committee Influence," Journal of Theoretical Politics, , vol. 20(3), pages 339-374, July.
    12. Yannis Karagiannis, 2007. "Economic Theories and the Science of Inter-Branch Relations," RSCAS Working Papers 2007/04, European University Institute.

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