Roessler, Christian; Shelegia, Sandro; Strulovici, Bruno - 2014
? Under an intuitive condition linking power structures in the dynamic setting and at the commitment stage, the answer is … equilibrium without commitment. The condition is also necessary: when it fails, as in the case of a single time-inconsistent agent …, commitment is valuable for some payoffs. We apply our result to explain inefficient collective decisions in the contexts of …