Bargaining one-dimensional policies and the efficiency of super majority rules
AbstractWe consider negotiations selecting one-dimensional policies. Individuals have single-peaked preferences, 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. The existence and uniqueness of stationary subgame perfect equilibrium is established, and its explicit characterization provided. We supply an explicit formula to determine the unique alternative that prevails, as impatience vanishes, for each majority. As an application, we examine the efficiency of majority rules. For symmetric distributions of peaks unanimity is the unanimously preferred majority rule. For asymmetric populations rules maximizing social surplus are characterized.
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Bibliographic InfoPaper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 762.09.
Date of creation: 17 Dec 2008
Date of revision:
Other versions of this item:
- Daniel Cardona & Clara Ponsaté, 2008. "Bargaining one-dimensional policies and the efficiency of super majority rules," Working Papers 375, Barcelona Graduate School of Economics.
- NEP-ALL-2009-02-14 (All new papers)
- NEP-CDM-2009-02-14 (Collective Decision-Making)
- NEP-POL-2009-02-14 (Positive Political Economics)
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