In such a situation, rational egoists – the individuals posited in much of orthodox economic theory – will free ride, leaving it to others to bear the costs of collective action, which will therefore not take place, even if it would foster the interests of all involved. Hence the possibility of a delightful paradox: the very markets in which Homo economicus, the rational egoist, appears to thrive cannot be created (if they require the solution of collective action problems, as in Chicago) by Homines economici.
