Codes of Conduct can never replace good intentions, mutual respect and human decency, but in the right hands, they can be an excellent tool for bullying and abuse.
Which is why laws are much more narrow and restricted than CoCs, and their enforcement has elaborate standards of evidence, checks and appeal mechanisms.
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Essentially they are rules and you need to enforce rules, if you don't want them to become meaningless.
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They are tools to offset or constrain incentives to create individual nash equilibria that are compatible with the success of the group.
End of conversation
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