  We introduce an end-to-end model of participatory budgeting grounded in
social choice theory. This model accounts for both the first stage, in which
participants propose projects to be shortlisted, and the second stage, in which
they vote on which of the shortlisted projects should be funded. We introduce
several shortlisting rules for the first stage and we analyse them in both
normative and algorithmic terms. Our main focus is on the incentives of
participants to engage in strategic behaviour, especially in the first stage,
in which they need to reason about how their proposals will impact the range of
strategies available to everyone in the second stage.
