Abstract
Merging Eraslan and Merlo (2002) and Yildirim (2007), I examine legislative bargaining with a stochastic surplus and costly recognition. I show the uniqueness of the symmetric stationary payoff under monotone hazard rate and an inefficiently early agreement under unanimity.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.