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    An agent known to reliably honor extra-legal agreements c... — Carmelics
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    Challenges→A promise to share poaching proceeds is not credible without a commitment device, because the promiser has no incentive to honor the promise once the antelope is secured.

    An agent known to reliably honor extra-legal agreements commands future partnerships unavailable to defectors, making honoring the promise instrumentally rational even without third-party enforcement.

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    Key Terms

    Defectors(as used in game theory and trust)
    People who break promises or agreements, especially by choosing to benefit themselves instead of keeping their word.
    Extra-legal(as used in contracts and agreements)
    Something that exists or happens outside of the official law—not illegal, but not governed by courts or legal systems either.
    Instrumentally rational(as used in decision theory and ethics)
    Making a choice that effectively helps you achieve your goal, even if that goal isn't about what's morally right.
    Third-party enforcement(as used in law and agreements)
    When an outside authority (like a court or police) makes sure that people follow an agreement or contract.
    agent(Economics terminology applied to medical ethics)

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    The party in a principal-agent relationship who is instructed to produce the good or service on the principal's behalf — in the medical context, the doctor

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    Social Contract1 linkedJustice & Punishment1 linked

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    A promise to share poaching proceeds is not credible without a commitment device...

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