compromise in project selection and equilibrium effort. Imposing deadlines for presenting counteroffers is beneficial, while … opposed interests can foster both effort and compromise in project selection. …

We study political compromise founded on tacit cooperation. Two political parties must share a fixed pie in each of an … for majority rule and supermajority rule, and ask whether one regime allows greater compromise than the other. …

This Paper examines recent theoretical developments in the theory of coalition stability. It focuses on the …

stability under learning. Appropriately designed expectations-based rules can yield optimal rational expectations equilibria …

. When there are multiple steady states, stability is a criterion for selecting predictions of long-run outcomes among them …. The purpose of this Paper is to study how sensitive stability is to certain details of the expectations rules, in a simple …, learning rules with vanishing gain, and OLS learning, and also relate these to expectational stability. One finding is that two …

We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …