Existence and Computation of Pure-strategy Equilibria in Models of Legislative Bargaining with Reconsideration
AbstractDiermeier 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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Bibliographic InfoPaper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1466.
Date of creation: 07 Aug 2008
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Postal: Center for Mathematical Studies in Economics and Management Science, Northwestern University, 580 Jacobs Center, 2001 Sheridan Road, Evanston, IL 60208-2014
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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 - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
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- Vincent Anesi, 2007.
"Noncooperative Foundations of Stable Sets in Voting Games,"
2007-09, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Anesi, Vincent, 2010. "Noncooperative foundations of stable sets in voting games," Games and Economic Behavior, Elsevier, vol. 70(2), pages 488-493, November.
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- Vincent Anesi, 2007. "Noncooperative Foundations of Stable Sets in Voting Games," Discussion Papers 2007-09, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
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