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badger comments on Polymath-style attack on the Parliamentary Model for moral uncertainty - Less Wrong
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Alright, a credence-weighted randomization between ideals and then bargaining on equal footing from there makes sense. I was imagining the parliament starting from scratch.
Another alternative would be to use a hypothetical disagreement point corresponding to the worst utility for each theory and giving higher credence theories more bargaining power. Or more bargaining power from a typical person's life (the outcome can't be worse for any theory than a policy of being kind to your family, giving to socially-motivated causes, cheating on your taxes a little, telling white lies, and not murdering).
In the set-up we're given the description of what happens without any trade -- I don't quite see how we can justify using anything else as a defection point.