# Crowding out

`kaal:entity:crowding-out`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `crowding-out`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2019 to 2026.

**2019**

- [3406323-006](https://wulfkaal.github.io/claims/3406323-006) [empirical/asserted] *(failure mode)* -- During the ICO boom years the venture capital market in the decentralized technology sector ground to a halt, and the later demise of the ICO market reversed the trend back toward venture funding.
  > During the ICO boom years, the venture capital market in the decentralized technology sector ground to a halt.
  Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

**2026**

- [7596939-025](https://wulfkaal.github.io/claims/7596939-025) [empirical/reported] *(failure mode)* -- Under the TOLD condition, with one provider in one stipulated environment, the two bounty arms protected records in 38 and 22 percent of wrongful attempts, the direction of crowding the model predicts; the registered bounty hypothesis was not supported.
  > Should intelligent agents have legal rights? This Article sets that question aside and asks a smaller one that matters more in practice. An intelligent agent that earns a reputation record has something to lose.
  Wulf A. Kaal, Should an Intelligent Agent Have Legal Rights? (2026). SSRN: https://ssrn.com/abstract=7596939

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/crowding-out.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.