VFC exhibits behavior in a model of bounded rationality. Information is only available through reporting mechanisms or communications with other entities. Not all information is available to all decision makers. Elihu M. Gerson. The initial configuration of VFC is shown in figure 3 as a collection of boxes and lines.
Arrowheads indicate the direction of the initial message.
For example, much institutional behaviour consists of negotiating compromises constrained by available funding. However, local possession of value can allow in turn the formation of new commitments. Hobbes chairs the Socratic dialogue. Social agents commit to a social convention of money that simultaneously constrains and enriches possible local outcomes. For example, much institutional behaviour consists of negotiating compromises constrained by available funding.