Skin in the Game as a Required Heuristic for Acting Under Uncertainty

Skin in the Game as a Required Heuristic for Acting Under Uncertainty, Constantine Sandis, Oxford Brooks; Nassim Nicholas Taleb, NYU-Poly; Université Paris I Panthéon-Sorbonne – Centre d’Economie de la Sorbonne (CES). July 25, 2013.

“We propose a global and morally mandatory heuristic that anyone involved in an action which 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. The mathematical appendix shows risk hiding in the absence of such a heuristic.”

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Posted in: Economy, Financial System, Knowledge Management

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Skin in the Game as a Required Heuristic for Acting Under Uncertainty

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