4 ms·
it is better: Taleb (2009) https://www.edge.org/3rd_culture/taleb09/taleb09_index.html https://www.edge.org/3rd_culture/taleb09/taleb09_index.html TEN PRINCIP
by pella 10y ago
it is better: Taleb (2009) https://www.edge.org/3rd_culture/taleb09/taleb09_index.html https://www.edge.org/3rd_culture/taleb09/taleb09_index.html
TEN PRINCIPLES FOR A BLACK-SWAN-ROBUST WORLD
"4. Do not let someone making an “incentive” bonus manage a nuclear plant – or your financial risks. Odds are he would cut every corner on safety to show “profits” while claiming to be “conservative”. Bonuses do not accommodate the hidden risks of blow-ups. It is the asymmetry of the bonus system that got us here. No incentives without disincentives: capitalism is about rewards and punishments, not just rewards."