However, there is a second problem that the institutions must overcome: Traders may not find it in their individual interests to participate in punishing those who cheat. As one simple example, if trade is expected to be profitable, a trader will be reluctant to engage in a trade boycott. The institutions must be designed both to keep the traders adequately informed of their responsibilities and to motivate them to do their duties.

Builds on: "Shared honesty reputations can enforce honesty in dispersed trading communities."

PAUL R. MILGRO, PAUL R. MILGRO - THE ROLE O…, loc. 77