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→Question C: Bargaining over Policy
'''Part I'''. For the following 2 cases, (1) outline how you would set up a model to study the institution, (2) discuss what you think may be the main interesting propositions, and (3) explain your logic for how they would be derived. (Note: you do not need formal proofs of your propositions, but you do need to sketch them and/or explain why you believe they will hold if formally derived).
a.) One puzzle in the literature is: If a veto is costly to both the President and Congress, why is the veto ever observed in practice? Whay Why can't a bargain be struck which avoids the "suboptimal losses" from the actual exercise of a veto? Outline a model in which vetoes are observed in equilibrium. Discuss what you believe are the primary propositions which will be derivable from this model.
b.) Another question about presidential power is: How do the existence of a veto player affect multi-lateral bargaining (in a legislature)? Outline a model of bargaining in legislatures with a Presidential veto. How will the inclusion of a Presidential veto affect you predictions under different institutional settings? In other words, compare how your results compare across different institutional settings (e.g. open versus closed rules, finite versus infinite horizon).
