Legislative Bargaining and Parties\u27 Patience

We investigate the relationship between parties\u27 patience and continuation values in legislative bargaining. We consider the legislative bargaining game without assuming common discount factor. In the game, it is observed a seemingly paradoxical phenomenon that more patient party obtains less continuation value than less patient party. Also, we show that in some cases, a party\u27s continuation value decreases as she marginally becomes more patient. These seemingly paradoxical results come from the role of patience different from ordinary bargaining games. The role is unique to the majority rule in the legislative bargaining