orthonormal comments on An Alternative Approach to AI Cooperation - Less Wrong
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The second case may be more plausible in a non-zero-sum environment, where the merged agent can achieve more of each prior agent's goals than they would each achieve in a competitive setting. Think of the Superhappies' propensity to merge goals with other species as an analogue.
Companies merge sometimes - that seems like a kind of proof of concept. They are usually trying to gain mass in order to defeat third parties.