Definitely. Another place the mathematics translates pretty cleanly to is financial leverage. If you take a loan to expand your business and pull forward profi

Definitely. Another place the mathematics translates pretty cleanly to is financial leverage. If you take a loan to expand your business and pull forward profits, or even rent property instead of buying it, you take tail risk but in normal times tend to outcompete. I think it's an ironclad argument for regulation (and maybe government intervention) in insurance markets, and a good argument in many others -- Even though I'm generally in favour of some leverage.