# kaal:claim:3782214-024

**Claim.** Reputation can be objectively valued by estimating the probability of future business deals, taking the expected value of that probability, and computing the present value of those deals, which is what makes reputation function as a promise of future rewards.

**Type.** mechanism  **Support.** argued

**Holds when.**

- reputation is tied to a stream of future business opportunities

**Source quote.**

> Reputation gives the promise of future rewards. Reputation can be objectively valued, by estimating the probability of future business deals, taking the expected value of that probability, and calculating the present value of those business deals.

**From.** Craig Calcaterra, Wulf A. Kaal, *Decentralized Governance* (2021), Reputation counters instability from profit motive, page 10

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Decentralized Governance (2021). SSRN: https://ssrn.com/abstract=3782214

**Verify.** sha256 of source PDF `ba892bb200c1455447c0014f5067a501a93ea9ec413c31942d95952eb3bdfd9d` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Decentralized%20Governance.pdf

**Topics.** reputation, economics, tokenomics

**Keywords.** reputation, valuation, expected-value, token-design

**Related claims.**

- extends: https://wulfkaal.github.io/claims/3782203-032

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.