 Dynamic Legislative Bargaining with Endogenous Agenda Setting AuthorityNo 2010-20, Working Papers from University of Miami, Department of Economics Abstract: Models of repeated legislative bargaining typically assume an agenda setter is randomly selected each period, even if the previous period agenda setter successfully passed a proposal. In reality, successful legislative agenda setters (e.g., speakers, committee chairs) tend to hold onto power. We propose two alternative models in which successful agenda setters retain power. In the first model, a successful agenda setter automatically keeps power. Such an assumption is easy to work with and results in a policy equal to that in a traditional non-repeated game. In the second model, an agenda setter requires the support of a legislative majority to retain power. Such an assumption is realistic and results in the most-equitable policy outcome. Compared to both of these models, the standard random-selection model exaggerates the agenda setter’s ability to extract rent from the legislative process, and underestimates the wellbeing of the legislative majority. Keywords: repeated legislative bargaining; stationary equilibrium; agenda control; proposal power (search for similar items in EconPapers) Forthcoming: Working Paper Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:mia:wpaper:2010-20 Access Statistics for this paper More papers in Working Papers from University of Miami, Department of Economics Contact information at EDIRC. |
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