kaal:claim:6269518-005
No static citation protocol can eliminate all arbitrage opportunities for sufficiently patient and powerful actors, a conclusion the author draws from Arrow's Impossibility Theorem, the Folk Theorems of repeated games, and incomplete contract theory.
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Arrow's Impossibility Theorem, the Folk Theorems of repeated game theory, and the theory of incomplete contracts all counsel that no static citation protocol can eliminate all arbitrage opportunities for sufficiently patient and powerful actors.6
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failuresupport: arguedfailure: static protocol arbitragefamily: rule-obsolescence-and-ossificationdynamic-regulationregulatory-failure
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