Nassim Nicholas Taleb on Skin in the Game
EconTalk
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Why Is It Important to Talk About Binary?
Without skinn at the game, is that if you say, welli if you lose money, i'm going to slap you on the wrist. That's not a very good system, because it doesn't know tats tot exactly. When he has skin a game, you hear much more, in a way, scientific, about things. You're much more rigorous athat risk. And there's a class of people who er, are trying to,. er promote the idea that people, that noll popabilities, are overpriced by the system.
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