Monopoly Agenda Control and Asymmetric Information

Jeffrey Banks

The Quarterly Journal of Economics, 1990, vol. 105, issue 2, 445-464

Abstract: This paper extends the Romer-Rosenthal [1978, 1979] model of monopoly agenda control to an environment where only the agenda setter knows with certainty the outcome associated with a failed proposal. The presence of this asymmetric information implies that any "take-it-or-leave-it" proposal may provide information crucial to the decision calculus of the voters, a fact which an optimal proposal strategy will incorporate. The equilibrium behavior of the agenda setter and voters is characterized and contrasted with that in the complete information environment, and a number of empirical predictions concerning the nature of elections with monopoly controlled agendas are derived.

Date: 1990
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