Skin In the Game
The Thrills and Logic of Risk Taking
Nassim Nicholas Taleb
Skin In the Game is the fifth volume of the Incerto which, to repeat, can be read in any order.
Below are selected chapters for comments. It is work in progress.
Never take advice from a salesperson The notion of equality in uncertainty
The domination of the stubborn minority How Europe will eat Halal, why GMOs will be history
The Gods do not like cheap talk
The logic of risk taking The two central chapters: why rationality is
precaution, how to reconcile prudence and courage, why critics of
ebola-worries are idiots but not those of flying vs driving, etc.
The skin of others in your game Why celibacy has been the only way to be ethically uncompromised; how to punish terrorists; how Ketchum runs smear campaigns
How to own a slave An employee is precisely
someone who signals skin in the game and fear of losing a job. A
revision of Coase's theory of the firm
The pope is overtly atheist Without skin in the game, worship never reveals preferences
Life is not a pecking order