Protection is a commodity paid for even when never used.

Related

• Protection terms depend on the relative power of customer and mafioso (similarity 0.87)
• Prior analysts conflate protected goods’ markets with the protection market itself. (similarity 0.85)
• In protection markets reputation is the product itself, not the signal of it (similarity 0.85)
• Businessmen receiving protection either pay a cut or become partners (similarity 0.83)
• Protection challengers raise switching costs rather than undercutting prices (similarity 0.81)
• Protection is bought as potential, regardless of whether it is ever used (similarity 0.81)
• Trust reduces transaction costs the way lubricant reduces friction (similarity 0.81)
• The victim role shifts as protected parties alternately lose their protectors (similarity 0.79)
• Commerce requires liberty, contract security, trust, and justice (similarity 0.79)