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Legislative bargaining with a stochastic surplus and costly recognition

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  • Yildirim, Mustafa

Abstract

Merging Eraslan and Merlo (2002) and Yildirim (2007), I examine legislative bargaining with a stochastic surplus and costly recognition. I show the uniqueness of the symmetric stationary payoff under monotone hazard rate and an inefficiently early agreement under unanimity.

Suggested Citation

  • Yildirim, Mustafa, 2018. "Legislative bargaining with a stochastic surplus and costly recognition," Economics Letters, Elsevier, vol. 163(C), pages 102-105.
    • Handle: RePEc:eee:ecolet:v:163:y:2018:i:c:p:102-105
    DOI: 10.1016/j.econlet.2017.12.013
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    References listed on IDEAS

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    1. Mark Bagnoli & Ted Bergstrom, 2006. "Log-concave probability and its applications," Studies in Economic Theory, in: Charalambos D. Aliprantis & Rosa L. Matzkin & Daniel L. McFadden & James C. Moore & Nicholas C. Yann (ed.), Rationality and Equilibrium, pages 217-241, Springer.
    2. Baron, David P. & Ferejohn, John A., 1989. "Bargaining in Legislatures," American Political Science Review, Cambridge University Press, vol. 83(4), pages 1181-1206, December.
    3. Ali, S. Nageeb, 2015. "Recognition for sale," Journal of Economic Theory, Elsevier, vol. 155(C), pages 16-29.
    4. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-399, March.
    5. Yildirim, Huseyin, 2007. "Proposal power and majority rule in multilateral bargaining with costly recognition," Journal of Economic Theory, Elsevier, vol. 136(1), pages 167-196, September.
    6. Huseyin Yildirim, 2010. "Distribution of Surplus in Sequential Bargaining with Endogenous Recognition," Working Papers 10-17, Duke University, Department of Economics.
    7. Eraslan, Hulya & Merlo, Antonio, 2002. "Majority Rule in a Stochastic Model of Bargaining," Journal of Economic Theory, Elsevier, vol. 103(1), pages 31-48, March.
    8. Huseyin Yildirim, 2010. "Distribution of surplus in sequential bargaining with endogenous recognition," Public Choice, Springer, vol. 142(1), pages 41-57, January.
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    Cited by:

    1. Yildirim, Mustafa, 2019. "Optimal team size under legislative bargaining with costly recognition," Economics Letters, Elsevier, vol. 177(C), pages 81-84.
    2. Miettinen, Topi & Vanberg, Christoph, 2020. "Commitment and Conflict in Multilateral Bargaining," Working Papers 0679, University of Heidelberg, Department of Economics.

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    More about this item

    Keywords

    Stochastic bargaining; Costly recognition; Uniqueness; Delays;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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