Why Taleb is Wrong About Markets and Uncertainty
Once you cut through the layers of purple prose and elective neologism, Nassim Nicholas Taleb’s central thesis is not hard to understand: people often know less than they think that they do, and some human affairs are arranged so that they are negatively, neutrally, or positively affected by surprising events. His prior work has focused on large, unlikely risks – cases where agents who think they are neutrally oriented or robust to surprises are actually fragile when the unexpected happens.…
Monday, November 26, 2012
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