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Noncooperative Foundations of Stable Sets in Voting Games

  • Vincent Anesi

    ()

    (University of Nottingham)

This note studies the noncooperative foundations of von Neumann- Morgenstern (vN-M) stable sets in voting games. To do so, we study Markov perfect equilibria of a noncooperative legislative bargaining game, based on underlying simple games. The following result emerges from such an exercise: Every stable set of the underlying simple game is the limit set of undominated Markov perfect equilibria of the bargaining game, which form a strategically stable set of equilibria, when voters are suciently farsighted; thus establishing a relationship between vN-M stability and strategic stability in voting games.

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Paper provided by The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham in its series Discussion Papers with number 2007-09.

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Date of creation: Nov 2007
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Handle: RePEc:cdx:dpaper:2007-09
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  1. E. Kohlberg & J.-F. Mertens, 1998. "On the Strategic Stability of Equilibria," Levine's Working Paper Archive 445, David K. Levine.
  2. Pohan Fong, 2008. "Endogenous Limits on Proposal Power," Discussion Papers 1465, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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  8. Kalandrakis, Anastassios, 2004. "A three-player dynamic majoritarian bargaining game," Journal of Economic Theory, Elsevier, vol. 116(2), pages 294-322, June.
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  14. Francesco De Sinopoli, 2003. "A Note on Forward Induction in a Model of Representative Democracy," CEIS Research Paper 21, Tor Vergata University, CEIS.
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  19. John C. Harsanyi, 1974. "An Equilibrium-Point Interpretation of Stable Sets and a Proposed Alternative Definition," Management Science, INFORMS, vol. 20(11), pages 1472-1495, July.
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