EGALITARIAN PAYOFF DISTRIBUTION IN LEGISLATIVE BARGAINING WITH 3 PLAYERS AND ENDOGENOUS AGENDA SETTERS

In this article we propose a collective decision making model in a dynamic environment with 3 players and the political rule that only gives the agenda-setting power in the next period to those who vote against the current status quo when first time it took effect. We show that, in equilibrium we derive, the agenda setter will randomly choose his supporter to form a minimum winning coalition which could carry on forever and the payoff distribution among that coalition is egalitarian and fair in some cases.