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A conversation between Nassim Nicholas Taleb and Stephen Wolfram (July 2, 2021) [Part 1]

The Stephen Wolfram Podcast

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What Is the Definition of Value in Economics?

Nn: In finance, i view the wa as arbitrage. And economics, I view the world as law of one price. You cannot have one good priced at one dollar and an identical good priced at 70 72 dollars. That's a law ofOnePrice. Nn says he has developed his entire business into something called dynamic replication. This is how to dynamically replicate an inament to another. Dynamicall you could probably replicate an option into aa stock, or stock into an option, or supeo applicate.

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