The role of oversight committees in closed rule legislation
AbstractWe formulate a game-theoretical model of closed rule legislation in the presence of informational asymmetries. In the model an agenda setter with private information proposes a policy to a legislature. The legislature appoints an oversight committee to monitor the agenda setter. We study the rationale for this appointment, and analyze the equilibrium oversight committee member choices for the legislators. We conclude that it is optimal for the legislators to appoint oversight committee members who are as far from them as is the agenda setter, but in the opposite direction, rather than do the monitoring themselves. The appointment of such oversight committee members represents a credible means for the legislators to commit to reject proposals that they only marginally prefer to the status quo.
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Bibliographic InfoPaper provided by Katholieke Universiteit Leuven in its series Open Access publications from Katholieke Universiteit Leuven with number urn:hdl:123456789/320691.
Length: 31 pages
Date of creation: Oct 2011
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Web page: http://www.kuleuven.be
european union; trade policy; delegation; oversight; asymmetric information;
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- Fiorina, Morris P, 1987. "Comment: Alternative Rationales for Restrictive Procedures [Collective Decisionmaking and Standing Committees: An Informational Rationale for Restrictive Amendment Procedures]," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(2), pages 337-43, Fall.
- Gilligan, Thomas W & Krehbiel, Keith, 1987. "Collective Decisionmaking and Standing Committees: An Informational Rationale for Restrictive Amendment Procedures," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(2), pages 287-335, Fall.
- Chad Damro, 2007. "EU Delegation and Agency in International Trade Negotiations: A Cautionary Comparison," Journal of Common Market Studies, Wiley Blackwell, vol. 45, pages 883-903, November.
- Crombez, Christophe, 1996. "Legislative procedures in the European Community," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/101051, Katholieke Universiteit Leuven.
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