Yes. To elaborate on this, I think that agents should converge on such an exchange as they become more wise and understand the world better.
Separately, I think that there are exchange rates that are inconsistent with each other, and I would already consider it a win to have a setup where the exchange rates aren’t inconsistent.
I wonder if we can back out what assumptions the ‘peace pact’ approach is making about these exchange rates. They are making allocations across cause areas, so they are implicitly using an exchange rate.
Yes. To elaborate on this, I think that agents should converge on such an exchange as they become more wise and understand the world better.
Separately, I think that there are exchange rates that are inconsistent with each other, and I would already consider it a win to have a setup where the exchange rates aren’t inconsistent.
I wonder if we can back out what assumptions the ‘peace pact’ approach is making about these exchange rates. They are making allocations across cause areas, so they are implicitly using an exchange rate.