Bargaining over Governments in a Stochastic Environment
AbstractIn this paper, the author structurally estimates a stochastic bargaining model of government formation in a multiparty parliamentary democracy and he conducts policy experiments to evaluate the effects of changes in the bargaining procedure. The author shows that the model fits data on the duration of negotiations and government durations in postwar Italy well. Also, he shows that changes in the proposer selection process would not affect either the duration of negotiations or government durations, whereas the imposition of a strict deadline would in general reduce the incentives to delay agreement as well as government durations. Copyright 1997 by the University of Chicago.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 105 (1997)
Issue (Month): 1 (February)
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Web page: http://www.journals.uchicago.edu/JPE/
Other versions of this item:
- Merlo, A., 1992. "Bargaining Over Governments in a Stochastic Environment," Working Papers 92-55, C.V. Starr Center for Applied Economics, New York University.
- Merlo, Antonio, 1996. "Bargaining over governments in a stochastic environment," Bulletins 7476, University of Minnesota, Economic Development Center.
- C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
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