Abstract:

The consequences of veto power in committees is analyzed using the approach of non-cooperative bargaining theory. It is first shown that in equilibrium non-veto players do not share in the benefits gained by the decision making of the committee, i.e, in every equilibrium outcome of the bargaining game non-veto players earn zero. Some measures for reducing the excessive power of veto members in committees are analyzed. Specifically, we study the effects of imposing a deadline on negotiations and of expanding the committee by increasing the number of non-veto players.

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