About: Delegation in Veto Bargaining

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An Entity of Type : schema:ScholarlyArticle, within Data Space : covidontheweb.inria.fr associated with source document(s)

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type	Academic Article research paper schema:ScholarlyArticle
isDefinedBy	Covid-on-the-Web dataset
title	Delegation in Veto Bargaining
Creator	Kartik, Navin Kleiner, Andreas Van Weelden, Richard
source	ArXiv
abstract	A proposer requires the approval of a veto player to change a status quo. Preferences are single peaked. Proposer is uncertain about Vetoer's ideal point. We study Proposer's optimal mechanism without transfers. Vetoer is given a menu, or a delegation set, to choose from. The optimal delegation set balances the extent of Proposer's compromise with the risk of a veto. Under reasonable conditions,%22full delegation%22is optimal: Vetoer can choose any action between the status quo and Proposer's ideal action. This outcome largely nullifies Proposer's bargaining power; Vetoer frequently obtains her ideal point, and there is Pareto efficiency despite asymmetric information. More generally, we identify when%22interval delegation%22is optimal. Optimal interval delegation can be a Pareto improvement over cheap talk. We derive comparative statics. Vetoer receives less discretion when preferences are more likely to be aligned, by contrast to expertise-based delegation. Methodologically, our analysis handles stochastic mechanisms.
has issue date	2020-06-11(xsd:dateTime)
has license	arxiv
sha1sum (hex)	5076aa767f4a0dd8383428b010863c28b9b897b6
resource representing a document's title	Delegation in Veto Bargaining
resource representing a document's body	covid:5076aa767f4a0dd8383428b010863c28b9b897b6#body_text
is schema:about of	named entity 'MENU' named entity 'EXTENT OF' named entity 'INTERVAL' named entity 'LIKELY' named entity 'status quo' »more»

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