4.7 Article

Holds enable one-shot reciprocal exchange

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Article Biology

Holds enable one-shot reciprocal exchange

Marcus Frean et al.

Summary: Cooperation and exchange between strangers without knowledge of each other is fundamental to human societies, but also carries the risk of defecting agents. We examine the minimum requirement for safe exchange between strangers and show that competing agents settle on exchange as a local optimum. Truly safe exchanges are rare, but an "implicit" hold is sufficient to enable common swaps that provide a trade-off between risk and convenience.

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