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Bargaining one-dimensional policies and the efficiency of super majority rules

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  • Daniel Cardona
  • Clara Ponsaté

Abstract

We 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 efciency 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 Info

Paper provided by Barcelona Graduate School of Economics in its series Working Papers with number 375.

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Date of creation: Dec 2008
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Handle: RePEc:bge:wpaper:375

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  1. Eraslan, Hulya & Merlo, Antonio, 2002. "Majority Rule in a Stochastic Model of Bargaining," Journal of Economic Theory, Elsevier, vol. 103(1), pages 31-48, March.
  2. Cho, Seok-ju & Duggan, John, 2003. "Uniqueness of stationary equilibria in a one-dimensional model of bargaining," Journal of Economic Theory, Elsevier, vol. 113(1), pages 118-130, November.
  3. Predtetchinski, Arkadi, 2011. "One-dimensional bargaining," Games and Economic Behavior, Elsevier, vol. 72(2), pages 526-543, June.
  4. Torsten Persson, 2002. "Do Political Institutions Shape Economic Policy?," Econometrica, Econometric Society, vol. 70(3), pages 883-905, May.
  5. 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.
  6. Aghion, Philippe & Bolton, Patrick, 2003. "Incomplete Social Contracts," Scholarly Articles 4554123, Harvard University Department of Economics.
  7. Matthias Messner & Mattias K. Polborn, 2004. "Voting on Majority Rules," Review of Economic Studies, Wiley Blackwell, vol. 71(1), pages 115-132, 01.
  8. Salvador BARBER?Author-Email: salvador.barbera@uab.es & Matthew O. JACKSON, 2003. "Choosing How to Choose: Self-Stable Majority Rules and Constitutions," UFAE and IAE Working Papers 596.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  9. Tasos Kalandrakis, 2004. "Proposal Rights and Political Power," Wallis Working Papers WP38, University of Rochester - Wallis Institute of Political Economy.
  10. Cardona, Daniel & Ponsati, Clara, 2007. "Bargaining one-dimensional social choices," Journal of Economic Theory, Elsevier, vol. 137(1), pages 627-651, November.
  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. Banks, Jeffrey S. & Duggan, John, 1999. "A Bargaining Model of Collective Choice," Working Papers 1053, California Institute of Technology, Division of the Humanities and Social Sciences.
  13. Caplin, Andrew S & Nalebuff, Barry J, 1988. "On 64%-Majority Rule," Econometrica, Econometric Society, vol. 56(4), pages 787-814, July.
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