https://macropaperwarehouse.com/authors/hans-gersbach/Hans GersbachHugo -- gohugo.ioen-ushttps://macropaperwarehouse.com/papers/open-rule-legislative-bargaining/https://macropaperwarehouse.com/papers/open-rule-legislative-bargaining/<p>This paper revisits the open rule legislative bargaining model of Baron and Ferejohn (1989) — the dominant workhorse model in political economy for analyzing how legislatures divide a surplus — and provides a more complete characterization of its stationary equilibria. The core research question is whether the equilibrium typically cited in the literature as the &ldquo;open rule equilibrium&rdquo; is actually the unique equilibrium, or whether it rests on implicit and unstated assumptions that, once relaxed, reveal a much richer equilibrium set.</p>