Re: Work or Pay Systems
From: Brian Bartholomew (
Date: Thu, 31 Jul 2008 23:06:37 -0700 (PDT)
> while markets (talking classical economics here), to function well
> assume buyers and sellers do not know each other over time (because
> familiarity breeds preferences, and other sorts of"inefficiencies"
> in pricing mechanisms).

Wait a minute.  That would seem to suggest that everyone participates
in those Nigerian money transfer schemes they get as spam.  The terms
are fantastic, and the parties know nothing about each other.

> communities are predicated on long-term relationships (what happens
> when people expect to know each other over time)

The game theories have the "nicest" results when all parties believe
the game will go on forever.  I buy certain brands at the grocery
because I have a history of satisfaction with those brands.  I'm not
saying I have a human social relationship with Nabisco, but they have
given me reason to believe their next box of crackers will taste as I
expect.  That familiarity and those preferences produce efficiency
while shopping.

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