Article ID Journal Published Year Pages File Type
957075 Journal of Economic Theory 2007 25 Pages PDF
Abstract
We analyze bargaining over the one-dimension characteristic of a public good among n impatient players when decisions require q favorable votes, q⩾2. Stationary subgame perfect equilibrium strategies are characterized for all games with deterministic protocol. We provide a monotonicity condition (satisfied by all single-peak, strictly quasi-concave and concave utilities) that assures uniqueness for every q whenever player's utilities are symmetric around the peak. Without symmetry, the monotonicity condition assures uniqueness for qualified majorities, q>n/2, provided that agents are sufficiently patient and utilities satisfy an additional regularity condition. Asymptotic uniqueness is assured for qualified majorities by imposing only the monotonicity condition.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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