kaal:claim:7322599-005

The dominance result formalizes a position maintained across eight years of the author's scholarship: reputation, the standing value of a relationship, is the accountability substrate, and collateral is not.

It is also the formalization of a position the author’s scholarship has maintained for eight years: that reputation, the standing value of a relationship, is the accountability substrate, and collateral is not (Calcaterra, Kaal, and Andrei 2018; Kaal 2019, 2021, 2024, 2026). Proposition 1 is this paper’s operational envelope for that position; it does not claim that the cited papers derived the inequality.

Wulf A. Kaal, Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets (2026), 1 Introduction, p. 3
https://ssrn.com/abstract=7322599 · source PDF

Wulf A. Kaal, Refundable Stake Does Not Expand Deterrent Capacity in Long-Lived Delegation: Collateral, Premia, and Pseudonymous Markets (2026). SSRN: https://ssrn.com/abstract=7322599

• Proposition 1 as the operational envelope; the cited papers did not derive the inequality

methodologicalsupport: arguedreputationcitation-and-knowledgeresearch-methods

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