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Gilligan Krehbiel (1987) - Collective Decision Making And Standing Committees (view source)
Revision as of 17:59, 20 May 2010
, 17:59, 20 May 2010no edit summary
The outcome (<math>x\,</math>) is linear in both the policy (<math>p\,</math>) and random variable (<math>\omega \sim U[0,1]\,</math>, such that <math>\mathbb{E}(\omega ) = \overline{\omega}\,</math> and <math>\mathbb{V}(\omega ) = \sigma_{\omega}^2\,</math>) concerning the state of the world. That is:
:<math>x = p+ \omega\,</math>
