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Monthly Archives: December 2010

My definition of fragility and antifragility lie in path dependence, the "ratchet" property and its nonlinearity: pass a certain level of stress, something irreversible takes place. What breaks doesn't return to its initial state. I get this from option theory as they are a certain form of CLIQUET options.

My definition of fragility and antifragility lie in path dependence, the “ratchet” property and its nonlinearity: pass a certain level of stress, something irreversible takes place. What breaks doesn’t return to its initial state. I get this from optio…

The Economist – Nassim Taleb The Bed of Procrustes

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Item 16 is an audio interview with NNT from The Economist

The Economist
ByThe Economist Newspaper Limited
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Tavis Smiley Nassim Taleb: Monday, 12/20

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Robustness and Fragility by Professor Nassim Nicholas Taleb, Wednesday 8th December 2010 – The Henry Jackson Society

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HatTip to Dave Lull
To prevent Black Swans from society, let me summarise two simple rules; one, do not give the manager of a nuclear plant an incentive bonus based on cost cutting; two, the captain goes down with his ship.  The fir…

COMMENT The Black Swan guy is back, and hes talking about you and me | 22122010 | Reactions – Global Insurance

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HatTip to Dave Lull
Every aphorism in the book is about a procrustean bed of sorts, he says in the book’s preface. “We humans, facing limits of knowledge, and things we do not observe, the unseen and the unknown, resolve the tens…