Meetings with Costly Participation: Comment
指出Osborne等人关于参与成本高昂的会议模型的一个证明错误,并构造了一个参与者人数为奇数的反例,说明该奇偶性对均衡形态有重大影响。
In a recent paper Osborne, Rosenthal and Turner (2000) investigate a model of meetings with costly participation. Their main result is that the equilibrium number of participants is small and their positions are extreme. In particular, when the policy space is one-dimensional and the policy outcome is the median of participants' positions, they conclude that the number of attendees is even. The proof is flawed. We construct an example with an odd number of attendees. Oddness of the number of participants has a dramatic consequence on how equilibria look like.