4 ms·
consider that the cost of complying is immediate and borne by the agent, whereas the penalty of defection is discounted according to the degree to which people
by tensor_rank_0 9y ago
consider that the cost of complying is immediate and borne by the agent, whereas the penalty of defection is discounted according to the degree to which people believe it can be postponed (insofar as they consider the penalty at all).