trust

The Prisoner’s Dilemma in Nigeria’s Power Sector

Why individually rational behavior keeps producing system-wide electricity failure. Nigeria’s power sector is often discussed as a technical problem. The proposed solutions usually focus on: These matter. But they do not fully explain why the system continues to underperform despite repeated reforms, billions in investment, and decades of restructuring. The deeper issue is strategic. Nigeria’s […]

The Prisoner’s Dilemma in Nigeria’s Power Sector Read More »

Coordination Failure: Why Rational Decisions Produce System-Wide Failure

Coordination Failure: Why Rational Decisions Produce System-Wide Failure Why systems break when individuals act rationally—but not collectively. Not every failed system is filled with foolish people. Sometimes, everyone is acting rationally. The farmer refuses to invest because there is no guaranteed buyer. The processor refuses to build capacity because supply is fragmented. The bank refuses

Coordination Failure: Why Rational Decisions Produce System-Wide Failure Read More »