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Baron Ferejohn (1989) - Bargaining In Legislatures (view source)
Revision as of 17:01, 16 September 2011
, 17:01, 16 September 2011→Closed Rule - Infinite Sessions
===Closed Rule - Infinite Sessions===
====No equilibrium restriction ====
From proposition 2 in the paper, if:
<math>1 > \delta > \frac{(n+2)}{2(n-1)} \mbox{ and } n \ge 5\,</math>
then: '''Any distribution of benefits (<math>x\,</math>) may be supported'''.
However, this is unsatisfactory as it requires a complete history at all points (which is unrealistic if <math>\delta\,</math> is a reelection probability and new members can't know the history), and if a member were indifferent between enforcing and not, it is only weakly credible.
====Equilibrium Restriction: Stationary Equilibrium ====
To restrict the equilibrium space the paper considers '''Stationary Equilibrium'''.
*The first vote recieves a majority, so the legislature completes in one session
<b>This is the same as closed-rule, finite session.</b>
===In the Paper===
The role of the majority rule (rather than say unaminity) is covered in the paper, as is the case of the stationary equilibrium for an open-rule.