Skin In the Game

The Thrills and Logic of Risk Taking


Nassim Nicholas Taleb

Skin In the Game is the fifth volume of the Incerto  which, to repeat, can be read in any order.

Below are selected chapters for comments. It is work in progress.

Never take advice from a salesperson The notion of equality in uncertainty

The domination of the stubborn minority How Europe will eat Halal, why GMOs will be history

The Gods do not like cheap talk

The logic of risk taking  The two central chapters: why rationality is precaution, how to reconcile prudence and courage, why critics of ebola-worries are idiots but not those of flying vs driving, etc.

The skin of others in your game Why celibacy has been the only way to be ethically uncompromised; how to punish terrorists; how Ketchum runs smear campaigns

How to own a slave An employee is precisely someone who signals skin in the game and fear of losing a job. A revision of Coase's theory of the firm

The pope is overtly atheist Without skin in the game, worship never reveals preferences

Life is not a pecking order