When i wrote, 20 years ago, my book, dynamic hedging, that was talwer the centre. If let's look at the effect of the errors on a model, and what do they do? You see? Because i know the model is not perfect. I had to accept this, not peause jut had to know, wa, what the imperfections do to me?
Nassim Taleb, author of The Black Swan and Fooled by Randomness, talks with EconTalk host Russ Roberts about his latest thoughts on robustness, fragility, debt, insurance, uncertainty, exercise, moral hazard, knowledge, and the challenges of fame and fortune.