Program

(AUDITORIUM) Plenary Session 2: The logic of Risk Taking

10:15 - 11:15 (04/10/2018)

AUDITORIUM

Inspired on his latest book Skin in the Game, Nassim will present common mistakes in the treatment of risks and will propose counterintuitive measures such as:

1) Ruin is different from regular risks; variations and small risks are often good in a system, but ruin is not;

2)  Ruin is path dependent and does not lend itself to the treatment of cost-benefit analyses, counter to 120 years of discussions in risk theory;

3) Risk is to be measured in terms of reduction of life expectancy, which can be infinite for ecosystems;

4) Risk for the collective is a different animal;

5) Many systems require the irrationality of individuals to function properly;

6) Paranoia is almost always good;

7) Psychological experiments based on static one-shot behavior are uninformative;

8) Parting Wisdom: Our grandmothers know a lot more than psychologists of risk management.

Speaker

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NASSIM NICHOLAS TALEB

Author of The Black Swan. Essayist, researcher and financial

United States of America

Add to Calendar2018-10-04 10:15:002018-10-04 11:15:00Europe/Madrid(AUDITORIUM) Plenary Session 2: The logic of Risk Taking AUDITORIUM

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