Suchergebnisse

THIS ARTICLE DEVELOPS A SEQUENTIAL-CHOICE BARGAINING MODEL THAT INCORPORATES VERY GENERAL ALLOCATIONS OF BOTH PROPOSAL AND VETO RIGHTS. THE MODEL HELPS CLARIFY THE IMPORTANT STRATEGIC DISTINCTIONS BETWEEN THESE RIGHTS AND IDENTIFY THE CONDITIONS UNDER WHICH THEY HAVE SUBSTANTIAL IMPACTS ON OUTCOMES. THE ANALYSIS DEMONSTRATES HOW THESE PREROGATIVES INTERACT AND HOW THE FAILURE TO ACCOUNT FOR THIS INTERACTION CAN LEAD TO MISTAKEN INFERENCES ABOUT THEIR INDIVIDUAL EFFECTS. FINALLY, THE MODEL SUGGESTS THAT THE VALUE OF THESE RIGHTS IS HEAVILY INFLUENCED BY A NUMBER OF OTHER FEATURES OF THE INSTITUTIONAL BARGAINING ENVIRONMENT.