conditions under which the equilibrium is unique and converges to a system of differential equations. Using unique and … increase welfare relative to estimated equilibrium predictions …

arguments may be perceived as being used for different reasons, for example, out of fairness considerations or in order to … facilitate negotiations. Consistent with experimental and behavioral studies on fairness perceptions, we find that individuals …

we derive the equilibrium deal flows across the two markets, endogenously deriving market sizes, competitive structures …

function that aggregates individual preferences. In equilibrium a majority of the voters may favor a budget deficit. The size … future majorities. The paper also shows that the ex-ante efficient equilibrium of this model involves a balanced budget. A …

impacts the district representative's roll call voting. We find that an increase in Democrat share within a district causes … more leftist roll call voting. This occurs because a Democrat is more likely to hold the seat, but also because - in … contrast to existing empirical work - partisan composition has a direct effect on the roll call voting of individual …

voting groups: skilled workers, unskilled workers, and old retirees. The essence of inter- and intra …-budget manner. We characterize political-economic equilibrium policy rules consisting of the tax rate, the skill composition of …

The paper revisits the problem of wage bargaining between a firm and multiple workers. We show that the Subgame Perfect … Equilibrium of the extensive-form game proposed by Stole and Zwiebel (1996a) does not imply a profile of wages and profits that … coincides with the Shapley values as claimed in their classic paper. We propose an alternative extensive-form bargaining game …