There Ain't No Such Thing As An Early Lunch. Andrew Chamberlain explains why in Punctuality is Inefficient.

Clearly this deviation from the optimal social outcome calls for government intervention. After all, who can solve a prisoner's dilemma if not the prison keeper? Were it not for state enforcement of meeting times, no one would ever show up for meals and we would all starve to death. Think about the children.

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I have a doubt: The analysis

I have a doubt: The analysis will fail if one tries to take advantage by deliberating trying to be late.