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Gilligan Krehbiel (1987) - Collective Decision Making And Standing Committees (view source)
Revision as of 20:57, 19 May 2010
, 20:57, 19 May 2010no edit summary
An equilibrium is a set of strategies <math>p^*(\cdot)\,</math>, <math>b^*(\cdot)\,</math> and beliefs <math>beliefs g^*(\cdot)\,</math> such that:
*<math>b^*(\omega)\,</math> maximizes <math>\mathbb{E}u_c\,</math>, given <math>p^*(b)\,</math>
*<math>p^*(b)\,</math> maximizes <math>\mathbb{E}u_f\,</math>, given <math>g^*(b)\,</math>
