We study collective decision-making procedures involving the formation of an agenda of issues and the subsequent vote on the position for each issue on the agenda. Issues that are not on the agenda remain unsettled. We use a protocol-free equilibrium concept introduced by Dutta et al. (2004) and...

We study the possibilities for agenda manipulation under strategic voting for two prominent sequential voting procedures, the amendment and the successive procedure. We show that a well-known result for tournaments, namely that the successive procedure is (weakly) more manipulable than the...

We consider a closed economy where a risk neutral bank competes with a competitive bond market. Firms can finance a risky project either by a bank credit or by issuing a bond which is directly sold to risk averse investors who also can hold safe deposits at the bank. We show that a monopolistic...

We provide experimental evidence on the emergence of redistributive societies. Individuals first vote on redistribution by feet and then learn their productivity and invest. We vary the individuals ́information about their productivities at the time when they choose a distribution rule and find...

Authors who consider efficient bargaining on the labor market predominantly focus on the Nash-bargaining solution. It seems, however, that actual labor market negotiations between an employers' federation and a labor union are often characterized by mutual concessions, which may be accounted for...