The prestige depends on the prior about lying, and in the other direction there’s a dependence from reality to reasoning about the prior. So there’s some equilibrium (between not-even-worth-lying-about and gullibility-arbitrage) that determines the prior.
The prestige depends on the prior about lying, and in the other direction there’s a dependence from reality to reasoning about the prior. So there’s some equilibrium (between not-even-worth-lying-about and gullibility-arbitrage) that determines the prior.