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Recognition without replacement in legislative bargaining

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  • Kim, Duk Gyoo

Abstract

This paper studies infinite-horizon sequential bargaining among n≥3 players in which a proposer is randomly selected from the pool of potential proposers. If the proposal is rejected, the current and previous proposers are excluded from the pool of potential proposers, and the game moves on to the next round until every player has had the same number of opportunities to be the proposer. To analyze the model with a particular time dependency within each sequence of n rounds (a cycle), I characterize the stationary equilibrium of a stochastic game, which I call cycle-stationary subgame perfect (CSSP) equilibrium. The CSSP equilibrium is unique in payoffs and analogous to the subgame perfect equilibrium of some forms of finite-horizon bargaining. Even when every player is entirely patient, the proposer's share in the CSSP equilibrium is smaller than that predicted by the stationary equilibrium of the Baron–Ferejohn legislative bargaining model.

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  • Kim, Duk Gyoo, 2019. "Recognition without replacement in legislative bargaining," Games and Economic Behavior, Elsevier, vol. 118(C), pages 161-175.
    • Handle: RePEc:eee:gamebe:v:118:y:2019:i:c:p:161-175
    DOI: 10.1016/j.geb.2019.09.007
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    2. Kim, Duk Gyoo, 2023. "“One Bite at the apple”: Legislative bargaining without replacement," Journal of Economic Psychology, Elsevier, vol. 95(C).
    3. Baranski, Andrzej & Haas, Nicholas, 2023. "The timing of communication and retaliation in bargaining: An experimental study," Journal of Economic Psychology, Elsevier, vol. 96(C).
    4. Bershadskyy, Dmitri & Sachs, Florian E. & Weimann, Joachim, 2023. "Collective bargaining in a shrinking group game: The role of information and communication," Journal of Economic Behavior & Organization, Elsevier, vol. 209(C), pages 391-410.

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    More about this item

    Keywords

    Legislative bargaining; Recognition process; Random sampling without replacement;
    All these keywords.

    JEL classification:

    • 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

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