...thinking particularly of the felt emotion in a relationship where you've just received a favor beyond your capacity to return
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yes, I see exactly what you mean -- and furthermore, why it is a trader vice so to speak.
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In a way trading could be seen as fundamentally motivated by rejection of permanent, asymmetric gratitude/obligation as bondage
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state not path. (critical 3 words for traders; most failures traceable to cognitive biases that ignore this dictum).
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that's a very good dictum. Generalizes sunk cost fallacy among other things. Otoh, complex systems may hold hidden path memories?
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not just sunk cost fallacy; also loss aversion, availability heuristic, buncha others.
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hmm you've now gotten me interested in how culture preserves path memories. Ultimatum game seems ~= prisoner's dilemma for that
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my totally hand-waving intuition is that it has something to do with the ergodic theorem: time-averages == space-averages
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in other words: yes, path may matter in a repeated game, but markets have so many participants, it's effectively a space-avg eqbm.
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I have nothing to support this at all, other than vague intuitions about size of a liquid (efficient) market and ensemble theory.
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