Agenda Restrictions In
نویسندگان
چکیده
We study a bilateral multi-issue bargaining procedure with complete information and endogenous agenda. In the procedure, proposals must be made on only one issue at a time, although the proposer can choose which issue to bring to the table. When bargaining frictions are small, there is a large multiplicity of equilibrium agreements, including ones with delay. However, equilibrium payoffs cannot be made arbitrarily small – perpetual disagreement cannot be supported in equilibrium. This multiplicity contrasts with the uniqueness found in the literature for a procedure where offers can be made in any subset of remaining issues. JEL Classification: C72, C78, D74.
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