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Gradualism in dynamic agenda formation

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  • Levy, Gilat
  • Razin, Ronny

Abstract

We analyze a dynamic model of agenda formation in which players compete in each period to put their ideal policies on the agenda. In each period, with some probability, a decision maker is called upon to take an action from the agenda. We show that in any Markov equilibrium of this game, players with extreme ideal policies will always compete to be in the agenda. On the other hand, there is a positive probability that in each round a more moderate policy will arise on the agenda. Therefore, agenda formation is a gradual process which evolves to include better policies for the decision maker but at a relatively slow pace.

Suggested Citation

  • Levy, Gilat & Razin, Ronny, 2009. "Gradualism in dynamic agenda formation," LSE Research Online Documents on Economics 42012, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:42012
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    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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