Taleb on Skin in the Game

Nassim Taleb of NYU-Poly talks with EconTalk host Russ Roberts about his recent paper (with Constantine Sandis) on the morality and effectiveness of "skin in the game." When decision makers have skin in the game--when they share in the costs and benefits of their decisions that might affect others--they are more likely to make prudent decisions than in cases where decision-makers can impose costs on others. Taleb sees skin in the game as not just a useful policy concept but a moral imperative. The conversation closes with some observations on the power of expected value for evaluating predictions along with Taleb's thoughts on economists who rarely have skin in the game when they make forecasts or take policy positions.

You can listen to Taleb on Skin in the Game online on Radio and Podcast. Open the player on this page to stream the available audio.

Taleb on Skin in the Game is an episode from EconTalk at GMU by Library of Economics and Liberty.

This episode is 1:02:47 long.

This episode was published on Sep 9, 2013.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from EconTalk at GMU when more episodes are available from the podcast feed.