The superiority of skin-in-the-game over regulation: it is a simple transactional agreement between individuals that doesn’t require government intervention, empty suits, and codes.The condition “I buy from you if you taste it” can be a natural part of the contract.Beyond that, it can be a moral heuristic: I only talk about things I do, and for which I will pay a price if I am wrong.
via The superiority of skin-in-the-game over… – Nassim Nicholas Taleb | Facebook.
Full of typos, but a very concentrated technical demonstration of the need of skin in the game . For comments as I just wrote it quickly. https://dl.dropboxusercontent.com/u/50282823/skininthegame.pdf
via Full of typos, but a very concentrated… – Nassim Nicholas Taleb | Facebook.
SKIN IN THE GAME. At 7:00 The DEATH OF ALMUTANABBI, page 393 of ANTIFRAGILE
Mutanabbi, to his friend who reminded him of his boast (in a poem M claims that he mastered both the sword and the word) :’your words have killed me… now I need to fight them to save my poetry so it remains pure, noble, and authentic”. And he runs to his certain death, as he was outnumbered by his enemies.
This is a Lebanese play (Classical Arabic spoken with a Levantine accent).
http://www.youtube.com/watch?v=D874W3qyn-4&list=PL0A78F5FE80F10185
Friends, comments are invited for this draft on a philosophy paper w/ Constantine Sandis, “ETHICS AND ASYMMETRY: SKIN IN THE GAME AS A REQUIRED HEURISTIC FOR ACTING UNDER UNCERTAINTYC. Sandis & N.N. Taleb
Abstract: We propose a global and mandatory heuristic that anyone involved in an action that can possibly generate harm for others, even probabilistically, should be required to be exposed to some damage, regardless of context. We link the rule to various philosophical approaches to ethics and moral luck. http://www.fooledbyrandomness.com/SandisTaleb.pdf
I tell people what I have in my portfolio, not what I predict; that way, I will be the first to be harmed. It is not ethical to drag people into these exposures without incurring the risk of losses. In my book Antifragile, I tell people what I do, not what they should do, to the great irritation of the literary critics. I do so not for autobiographical reasons, but only because the other approach would not be ethical.
CommentsFinally, there are warmongers. To deal with them, the onetime consumer advocate and former US presidential candidate Ralph Nader has proposed that those who vote in favor of war should place themselves or a descendent into military service.
CommentsOne can only hope that something will be done in 2013 to implement some skin in the game heuristics. A safe and just society demands nothing less.
via More Skin in the Game in 2013 by Nassim Nicholas Taleb – Project Syndicate.