This book, while standalone, is a continuation of the Incerto collection, which
is a combination of a) practical discussions, b) philosophical tales, and c)
scientific and analytical commentary on the problems of randomness, and
how to live, eat, sleep, argue, fight, befriend, work, have fun, and make
decisions under uncertainty. While accessible to a broad group of readers,
don’t be fooled: the Incerto is an essay, not a popularization of works done
elsewhere in boring form (leaving aside the Incerto’s technical companion).
Skin in the Game is about four topics in one: a) uncertainty and the
reliability of knowledge (both practical and scientific, assuming there is a
difference), or in less polite words bull***t detection, b) symmetry in human
affairs, that is, fairness, justice, responsibility, and reciprocity, c) information
sharing in transactions, and d) rationality in complex systems and in the real
world. That these four cannot be disentangled is something that is obvious
when one has … skin in the game.
It is not just that skin in the game is necessary for fairness, commercial
efficiency, and risk management: skin in the game is necessary to understand
the world ...