Acemoglu, Daron; Egorov, Georgy; Sonin, Konstantin - In: American Economic Review 102 (2012) 4, pp. 1446-76
In dynamic collective decision making, current decisions determine the future distribution of political power and influence future decisions. We develop a general framework to study this class of problems. Under acyclicity, we characterize dynamically stable states as functions of the initial...