Of course, we are all familiar with cases in which the payoff from a defection in a current round becomes too great relative to the longer-run value of reputation to future cooperation, and we awake to find that the society treasurer has absconded overnight with the funds.
The junk bond market has been shaken by fears that Drexel will be forced to sell its bond holdings, but in the longer run the value of junk bonds will be determined by just how profitable their issuing companies are.
Men looking for a one-night stand would want a pill that works quickly and wears off just as fast, such as those treatments proposed by Amobi and Ventura, while others in a stable relationship might be tempted by a longer-lasting option that they wouldn't have to worry about forgetting to take and which would work out as better value in the longer run.
Refined arguments may be made in the pages of quality newspapers about how we need a European foreign policy simply to defend, in the longer run, the very quality of life Europeans value most – but these arguments cut little ice.
Several years ago, falling sales led the Detroit companies to introduce huge "employee pricing" sales that quickly cleared dealer lots but significantly hurt profits and, in the longer run, discouraged new car sales because the resale values of their cars plummeted.
Over the longer run, landowners would get less of the increments in land values and the public would get more.
"They have been very effective kind of stunts," says Brian Hanley, a member of the Irish Association of Professional Historians, "but in the longer run I don't know how many of those things you can do before their value declines.
In the longer run, public schools ensure another market essential: a literate and skilled population sharing basic values.
The danger lies in the longer run.
Over the longer run, they will help marginalize the party.
In the longer run, its appeal is undiminished.
