The distinction between hustlers and suckers may appear, at first glance, too colloquial to deserve philosophical treatment. It seems to belong to the vocabulary of profanity rather than the lexicon of the academy, street wisdom rather than theory, to informal judgment rather than conceptual analysis. And yet, once examined closely, the distinction reveals itself as one of the most persistent—and most revealing—ways in which we have tried to think about agency under conditions of asymmetry.