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

[Liberty]

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2298292

 

Abstract:    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

[meiroy]

 

So, just read Skin in the Game: Hidden Asymmetries in Daily Life.

 

It's fantastic. Very well written and thought-provoking. Definitely worth a read.

 

 

 

[bizaro86]

This is the primary reason why I think commercial airplanes will always have at least one pilot sitting in them during my lifetime.