The Politics of Compromise
Alessandro Bonatti () and
No 9910, CEPR Discussion Papers from C.E.P.R. Discussion Papers
A team must select among competing projects that differ in their payoff consequences for its members. Each agent chooses a project and exerts costly effort affecting its random completion time. When one or more projects are complete, agents bargain over which one to implement. A consensus requirement can (but need not) induce the efficient balance between compromise in project selection and equilibrium effort. Imposing deadlines for presenting counteroffers is beneficial, while delegating decision-making to an impartial third party leads agents to select extreme projects. Finally, hiring agents with opposed interests can foster both effort and compromise in project selection.
Keywords: bargaining; compromise; conflict; consensus; deadlines; free-riding (search for similar items in EconPapers)
JEL-codes: C72 D71 D83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cdm, nep-gth, nep-mic, nep-pol and nep-ppm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at firstname.lastname@example.org
Journal Article: The Politics of Compromise (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:9910
Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=9910
Access Statistics for this paper
More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().