kaal:claim:3406323-040

For any static set of rules in an infinitely repeated game using reputation stakes there is a way to subvert the rules for individual profit at the expense of the group, a result the author attributes to the Folk Theorems of game theory.

For any static set of rules in an infinitely repeated game using reputation (stakes), there is a way to subvert the rules for an individual's profit at the expense of the group.

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019), VII. Ethical Governance, p. 19
https://ssrn.com/abstract=3406323 · source PDF

Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

• infinitely repeated games using reputation or stakes
• static rule sets

failuresupport: arguedfailure: static-rule-subversionfamily: rule-obsolescence-and-ossificationeconomicsconsensus-and-securityreputationgovernance-design

• extended_by kaal:claim:3411897-040 For any static set of rules in an infinitely repeated game using reputation stakes, there is a way to subvert ...
• extends kaal:claim:3402701-011 The Folk Theorems of game theory imply that no matter how complicated a stable coin protocol becomes, a powerf...
• extended_by kaal:claim:3782193-011 No set of written rules can be made complete: the Folk Theorems demonstrate that however rules are written, st...
• restated_by kaal:claim:3782192-017 The Folk Theorems of game theory prove that any rules that can be formally set down can be subverted: strategi...
• restates kaal:claim:3402701-036 The Folk Theorems of game theory prove that no protocol, however complex or well engineered, can eliminate cor...
• extended_by kaal:claim:3782220-004 Transcendental values are necessary for long-term stability because every formal, explicitly specified protoco...
• supports kaal:claim:3402701-007 Good governance principles are crucial to every aspect of a long-term stable currency because markets inevitab...

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