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Routines and instincts are similar in terms of function and structure: 1) With respect to function, they economize on scarce decision-making resources, such as cognitive faculties, by making actions, within limits, inflexible vis-à-vis fluctuating environmental stimuli. As inflexible patterns,...
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Third-party institutions (judges, real-estate agents, referees, mediators, and arbiters) are designed to avoid mis-coordination among potential cooperators. They differ from first-party institutions (lobbyists) who act as rent-seekers in bargaining. They also differ from second-party...
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