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This paper provides a cradle-to-grave model for political union between two unequally endowed states. We introduce negotiated, contested, and time-consistent contested constitutions to address various classes of merger problems. Merger agreement is shown to be path dependent and, in some cases,...
Persistent link: https://www.econbiz.de/10009365360
models. This result implies that modeling the time structure in bargaining situations is crucially important at the risk of …
Persistent link: https://www.econbiz.de/10009370132
We propose a bargaining process with alternating proposals as a way of solving non-cooperative games, giving rise to …
Persistent link: https://www.econbiz.de/10008672300
the overlapping case. We propose a cover function bargaining game which allows the formation of overlapping coalitions at …
Persistent link: https://www.econbiz.de/10008674336
characterized by a minmax problem involving efficient equilibrium payoffs that are above the bargaining frontier, which is possible …
Persistent link: https://www.econbiz.de/10011049845
Two groups of voters of known sizes disagree over a single binary decision to be taken by simple majority. Individuals have different, privately observed intensities of preferences and before voting can buy or sell votes among themselves for money. We study the implication of such trading for...
Persistent link: https://www.econbiz.de/10011084134
, the more balanced Nash bargaining solution is approximately restored.In all cases commitment occurs in equilibrium, even …
Persistent link: https://www.econbiz.de/10011090638
division can only be agreed upon after the coalition has formed (two-stage bargaining); second, negotiations in the coalition ….These results are robust to the details of the bargaining procedure.Surprisingly, having a two-stage process (rather than a one …
Persistent link: https://www.econbiz.de/10011092140
analyzing majority bargaining, where observed behavior contradicts existing theories but confirms RDA. Using parameter estimates … from majority bargaining, we then make out-of-sample predictions for Charness-Rabin, Engelmann-Strobel, and Bolton …
Persistent link: https://www.econbiz.de/10011110657
This paper examines a dynamic process of n-person coalitional bargaining problems. We study the stochastic evolution of … social conventions by embedding a static bargaining setting in a dynamic process; Over time agents revise their coalitions …
Persistent link: https://www.econbiz.de/10011111822