Short-term versus long-term perspectives
The analysis of Axelrod’s (1984) “Prisoners Dilemma” concluded that “defection yields
a better immediate payoff but co-operation yields a better long-term gain”. It is
common experience that the longer the relationship is in time the better it is to behave
morally: it brings about additional personal advantage and the benefit of mutual trust.
More recently Ridley (1996) has drawn our attention to a more sophisticated version in
which he extends the consideration beyond dyadic ones. Perhaps this consideration
can cast its light on a more general trend. Is it possible that time is a factor that
forwards convergence between morals and convenience? May this by any chance be
true not only for empirical, but also for theoretical aspects?