On the optimality of bargaining outcomes in the Collective-Particularistic multilateral bargaining game
AbstractThis note analyzes the efficiency properties of the equilibrium in a multilateral bargaining game in which a legislature divides a budget among collective and particularistic goods. We extend the model of Volden and Wiseman (2007) by considering smooth utility functions and consensus requirements ranging from simple-majority to unanimity. We show that when the private valuation of the private good is relatively high, only unanimity induces an (ex-ante) Pareto efficient outcome. Moreover, optimality can be easily attained by using sequential negotiations, independently of the majority requirement.
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Bibliographic InfoPaper provided by Universitat de les Illes Balears, Departament d'Economía Aplicada in its series DEA Working Papers with number 53.
Date of creation: 2013
Date of revision:
Non-cooperative bargaining; sequential negotiantion; voting; quota rules;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-02 (All new papers)
- NEP-CDM-2013-03-02 (Collective Decision-Making)
- NEP-GTH-2013-03-02 (Game Theory)
- NEP-MIC-2013-03-02 (Microeconomics)
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1036, California Institute of Technology, Division of the Humanities and Social Sciences.
- 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.
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