Mafia protection substitutes poorly for trust in transactions. [contrarian]
In every transaction in which at least one party does not trust the other to comply with the rules, protection becomes desirable, even if it is a poor and costly substitute for trust. This book shows that mafia protection fulfills this role, albeit in an erratic and limited fashion. The market is therefore rational in the sense that there are people who find it in their individual interest to buy mafia protection. While some may be victims of extortion, many others are willing customers. … There is a propensity to reduce cognitive dissonance by reverting to the view of mafiosi as mere extortionists.
Diego Gambetta, The Sicilian Mafia The Busi…, loc. 13