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Existence and Computation of Pure-strategy Equilibria in Models of Legislative Bargaining with Reconsideration

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Author Info
Pohan Fong
Abstract

Diermeier and Fong (2008a) recently proposed a legislative bargaining model with reconsideration in the context of a distributive policy environment. In this paper we prove general existence and necessary conditions for pure-strategy stationary equilibria for any finite policy space and preference profile. We also provide an algorithm to compute these equilibria. In any such equilibrium proposal power is endogenously limited compared to the case of no reconsideration. The general model is then applied to various policy environments, including a model with spatial preferences. In the context of a public goods environment we can show that lack of commitment increases policy efficiency.

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Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1466.

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Date of creation: Aug 2008
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Handle: RePEc:nwu:cmsems:1466

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Web page: http://www.kellogg.northwestern.edu/research/math/
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Related research
Keywords: Legislative bargaining; reconsideration; evolving default; proposal power; lack of commitment; distributive politics; public goods; spatial model.;

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation

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