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In most parliamentary democracies, proportional representation electoral rules mean that no single party controls a majority of seats in the legislature. This in turn means that the formation of majority legislative coalitions in such settings is of critical political importance. Conventional...
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members of the coalition group for equilibrium payoffs and welfare effects. In this analysis, we also distinguish between … coalition groups with and without side payments. Overall, coalition groups tend to perform well for the members of the coalition … group in comparison to fully decentralized negotiations, particularly if the objectives of the members of the coalition …
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Two crucial aspects of economic reality are uncertainty and dynamics. In this book, new models and techniques are developed to analyse economic dynamics in an uncertain environment. In the first part, investment decisions of firms are analysed in a framework where imperfect information regarding...
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in favor of another feasible alternative by any coalition. We use this test of coalitional voting in an incomplete … among members of a coalition is endogenous. Our results lend support to the credible core of Dutta and Vohra (2003) and the …
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