Andersen, Asger Lau; Dreyer Lassen, David; Nielsen, … - 2010
The budget forms the legal basis of government spending. If a budget is not in place at the beginning of the fiscal … continuous-time war-of-attrition model of budgeting in a presidential style-democracy to explain the duration of budget … negotiations. We build our model around budget baselines as reference points for loss averse negotiators. We derive three testable …
