I don’t see why using the word “virtue” magically solves the hardness of that math (the reasons why such assumptions are simplifying). Maybe that is what your promised formalizations are about, but I’m also kinda skeptical that reputation and consumers’ preference to trade with some groups over others is a subject that no economist could give reasonable models about.
I don’t see why using the word “virtue” magically solves the hardness of that math (the reasons why such assumptions are simplifying). Maybe that is what your promised formalizations are about, but I’m also kinda skeptical that reputation and consumers’ preference to trade with some groups over others is a subject that no economist could give reasonable models about.