In this toy model, the strategy that (may) outcompete is delivering a better service.
> The end-game is always monopolization
This is one happy end state of PE but let’s be clear that for large swathes of human history it has not been the goal of most participants in local economies. If PE’s edge is diluted they may find themselves less able to achieve this on the margin.
> The end-game is always monopolization
This is one happy end state of PE but let’s be clear that for large swathes of human history it has not been the goal of most participants in local economies. If PE’s edge is diluted they may find themselves less able to achieve this on the margin.