This is Nassim Taleb Week

Russ Roberts does a podcast Nassim Nicholas Taleb on Skin in the Game. Listen to the whole thing or read the transcript. One random excerpt:

Crossing the street reduces your life expectancy by 1 in 47,000 years. It’s not a big deal. So, the–crossing the street basically is close to zero risk for me, because my life expectancy is not infinite. But if you made humanity cross the street, that would be a problem, because it would reduce life expectancy commensurably.

So, the problem of these analyses that people throw around is that they ignore the value from life expectancy of whatever you are threatening.

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