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A central feature of dynamic collective decision-making is that the rules that govern the procedures for future decision-making and the distribution of political power across players are determined by current decisions. For example, current constitutional change must take into account how the new constitution may pave the way for further changes in laws and regulations. The authors develop a general framework for the analysis of this class of dynamic problems. Under relatively natural acyclicity assumptions, they provide a complete characterization of dynamically stable states as functions of the initial state and determine conditions for their uniqueness.
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