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RichardKennaway comments on Traditional Capitalist Values - Less Wrong

38 Post author: Eliezer_Yudkowsky 17 October 2008 01:07AM

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Comment author: RichardKennaway 16 November 2012 09:24:04AM *  1 point [-]

In game theoretic terms, there's no reason to assume repeated play

There is this reason to assume repeated play: in fact, almost all business is a game of repeated play. There are very few businesses that can survive without either repeat custom or word of mouth (which is indirect repeat custom). The ones that do are things like airport taxis ripping off incoming tourists, and spam fraud.