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Gilligan Krehbiel (1987) - Collective Decision Making And Standing Committees (view source)
Revision as of 18:43, 30 September 2011
, 18:43, 30 September 2011no edit summary
<b>Proof</b>: <math>g^{\ast}(b)=\{w\in [0,1]\}</math> since b is not a function of w since c does not observe w. FLoor chooses p such that <math>\max_{p}\int_{0}^{1}-(p+w)^{2}f(w)dw, f(w)=1, w\in[0,1]</math>.
<b>Comments</b>: 1) No information transmission, 2) Leads to "info losses" for both the floor and committee, 3) Risk aversion, 4) Incomplete (by which I think he means <i>asymmetric</i>) info is not relevant, 5) Committee plays no role.
