TY - JOUR
T1 - Voting rules and efficiency in one-dimensional bargaining games with endogenous protocol
AU - Cardona, Daniel
AU - Polanski, Arnold
PY - 2013
Y1 - 2013
N2 - We analyze a rent-seeking contest that determines the bargaining protocol in a onedimensional bargaining game where agents preferences over social outcomes are single-peaked. We relate the incentives of the agents to make unproductive and costly efforts/investments to the quota rules that are required to implement agreements. When the contest assigns persistent recognition probabilities, we find that simple majority reduces the total investments and, hence, inefficiency. In case that the contest recurs each period, multiple equilibria are obtained, with the particularity that only one agent controls the agenda of the bargaining process.
AB - We analyze a rent-seeking contest that determines the bargaining protocol in a onedimensional bargaining game where agents preferences over social outcomes are single-peaked. We relate the incentives of the agents to make unproductive and costly efforts/investments to the quota rules that are required to implement agreements. When the contest assigns persistent recognition probabilities, we find that simple majority reduces the total investments and, hence, inefficiency. In case that the contest recurs each period, multiple equilibria are obtained, with the particularity that only one agent controls the agenda of the bargaining process.
U2 - 10.1007/s00355-012-0681-3
DO - 10.1007/s00355-012-0681-3
M3 - Article
VL - 41
SP - 217
EP - 240
JO - Social Choice and Welfare
JF - Social Choice and Welfare
SN - 0176-1714
ER -