Having "your skin at stake" ("playing your skin" in Spanish) is having incurred risk by participating in the achievement of an objective. Taleb expands the definition to include any risk so that "every captain goes down with every ship." This eliminates the agency problem or, in other words, "Situation in which the manager of a company is not the true owner, so he follows a strategy that seems aesthetically healthy, but that secretly benefits him and makes him antifragile at the expense (fragility) of the true owners or society. When he is right, he reaps great benefits; when he is wrong, others pay the price. Usually, this problem leads to fragility, since it is easy to hide risks. It also affects politicians and academics. A great source of fragility".[20]​.

Taleb's next book, Skin in the Game: Hidden Asymmetries in Daily Life, promotes the idea, claiming that it is necessary for fairness, business efficiency, and risk management, as well as being necessary for understanding the world.

The vianegata is a type of theological thinking that attempts to describe God by negation or, in other words, by what God is not. Taleb expanded this definition to include, more generally, the focus on what something is not, in action, what to avoid or what not to do. Avoiding going to the doctor for minor illnesses or eliminating certain foods from the diet to improve health are examples.

A technology, or something non-perishable, increases life expectancy with each more day of its life, unlike perishable items (like humans, cats, dogs, and tomatoes). So a book that has been in print for a hundred years will probably be in print for a hundred more years. The opposite is Neomania"), a love of change for its own sake, a form of philistinism that does not comply with the Lindy effect and that understands fragility. It predicts the future by adding, not subtracting.

In finance, a Barbell strategy is formed when a trader invests in long and short duration bonds, but does not invest in intermediate duration bonds. This strategy is useful when interest rates are rising; As short-term maturities accumulate, they receive a higher interest rate, increasing the value. Taleb generalizes the phenomenon and applies it to other domains. Essentially it is the transformation of anything from fragile to antifragile.

Contenido

La Falacia de la Madera Verde se refiere a un tipo de falacia en la que uno confunde un tipo importante de conocimiento con otro; en otras palabras, "confundir la fuente del conocimiento importante o incluso necesaria, por otra menos visible desde el exterior, menos tratable... cuántas cosas que llamamos 'conocimiento relevante' no lo son tanto".[23]​ Matemáticamente, es el uso de una función incorrecta que, por casualidad, da la solución correcta. La raíz de la falacia es que, aunque las personas pueden estar enfocándose en las cosas correctas, debido a la complejidad de las cosas, no son lo suficientemente buenas como para resolverlas intelectualmente.

El término madera verde se refiere a una historia de los autores Jim Paul y Brendan Moynihan en su libro What I Learned Losing A Million Dollars, donde un comerciante hizo una fortuna comerciando con madera que pensaba que era literalmente "verde" en lugar de fresca.[24]​ «Esto llega a la idea de que una supuesta comprensión de un fundamento de inversión, una narrativa o un modelo teórico es inútil en el comercio práctico».[25]​.

Early incidents

A first appearance of this fallacy is found in the ancient history of Thales. Aristotle explains that Thales reserved the oil presses before the olive harvest at a discount, only to rent them at a high price when demand peaked, following his predictions of a particularly good harvest. Aristotle attributes Thales' success to his ability to correctly forecast the weather. However, it was not his ability to forecast that made Thales successful, but rather "Thales put himself in a position to take advantage of his lack of knowledge... that he did not need to understand too much of the messages from the stars."

Green wood problem

The greenwood fallacy only becomes a problem (namely, the greenwood problem) when the perpetuation of the fallacy has a high, opaque negative impact. For example:.

Toward the end of the book, Taleb provides examples of the agency and cherry-picking problems, calling them the Robert Rubin problem, the Joseph Stiglitz problem, and the Alan Blinder problem.") In the final chapter, for example, Taleb criticizes Alan Blinder, former vice chairman of the board of governors of the Federal Reserve System, for trying to sell an investment product at Davos in 2008 that would allow an investor to circumvent regulations limiting deposit insurance and benefit from coverage for almost unlimited amounts. Taleb commented that the scheme "would allow the super-rich to defraud taxpayers by obtaining free government-sponsored insurance." He also criticized Blinder for using former regulators to game the system they built and for expressing opposition to bank insurance policies that would harm their business, that is, claiming that what is good for their business is "for good for the public good." denied.[27]​.

Antifragile was a New York Times bestseller and was praised by critics in many notable periodicals, including Harvard Business Review, Fortune magazine,[28]​ New Statesman,[29]​ The Economist, and Forbes. Although Boyd Tonkin of The Independent criticized Taleb's style as "vulgar, silly and infuriating", of the ideas in the book he commented: "again and again he returned to two questions about his central ideas: Is he right, and does it matter? My verdict: Yes, and yes."[30]

Less favorable reviews include Michiko Kakutani of The New York Times, who described the book as "maddening, audacious, repetitive, sententious, intemperate, erudite, reductive, sly, self-indulgent, provocative, pompous, penetrating, insightful and pretentious."[31]

Some of the negative reviews focus on Taleb's style and the overall structure of the book, particularly the difficulty of easily summarizing it in a superficial review. So, although the book has a table of contents, chapter summaries, and a map, a summary of the book is difficult to discern since the headings and summaries of contents have no noticeable pattern and many of the titles are abstruse (e.g., Hungry Donkeys) which the author claims is designed to disadvantage book reviewers by forcing them to read the book in its entirety.

Having "your skin at stake" ("playing your skin" in Spanish) is having incurred risk by participating in the achievement of an objective. Taleb expands the definition to include any risk so that "every captain goes down with every ship." This eliminates the agency problem or, in other words, "Situation in which the manager of a company is not the true owner, so he follows a strategy that seems aesthetically healthy, but that secretly benefits him and makes him antifragile at the expense (fragility) of the true owners or society. When he is right, he reaps great benefits; when he is wrong, others pay the price. Usually, this problem leads to fragility, since it is easy to hide risks. It also affects politicians and academics. A great source of fragility".[20]​.

Taleb's next book, Skin in the Game: Hidden Asymmetries in Daily Life, promotes the idea, claiming that it is necessary for fairness, business efficiency, and risk management, as well as being necessary for understanding the world.

The vianegata is a type of theological thinking that attempts to describe God by negation or, in other words, by what God is not. Taleb expanded this definition to include, more generally, the focus on what something is not, in action, what to avoid or what not to do. Avoiding going to the doctor for minor illnesses or eliminating certain foods from the diet to improve health are examples.

A technology, or something non-perishable, increases life expectancy with each more day of its life, unlike perishable items (like humans, cats, dogs, and tomatoes). So a book that has been in print for a hundred years will probably be in print for a hundred more years. The opposite is Neomania"), a love of change for its own sake, a form of philistinism that does not comply with the Lindy effect and that understands fragility. It predicts the future by adding, not subtracting.

In finance, a Barbell strategy is formed when a trader invests in long and short duration bonds, but does not invest in intermediate duration bonds. This strategy is useful when interest rates are rising; As short-term maturities accumulate, they receive a higher interest rate, increasing the value. Taleb generalizes the phenomenon and applies it to other domains. Essentially it is the transformation of anything from fragile to antifragile.

Contenido

La Falacia de la Madera Verde se refiere a un tipo de falacia en la que uno confunde un tipo importante de conocimiento con otro; en otras palabras, "confundir la fuente del conocimiento importante o incluso necesaria, por otra menos visible desde el exterior, menos tratable... cuántas cosas que llamamos 'conocimiento relevante' no lo son tanto".[23]​ Matemáticamente, es el uso de una función incorrecta que, por casualidad, da la solución correcta. La raíz de la falacia es que, aunque las personas pueden estar enfocándose en las cosas correctas, debido a la complejidad de las cosas, no son lo suficientemente buenas como para resolverlas intelectualmente.

El término madera verde se refiere a una historia de los autores Jim Paul y Brendan Moynihan en su libro What I Learned Losing A Million Dollars, donde un comerciante hizo una fortuna comerciando con madera que pensaba que era literalmente "verde" en lugar de fresca.[24]​ «Esto llega a la idea de que una supuesta comprensión de un fundamento de inversión, una narrativa o un modelo teórico es inútil en el comercio práctico».[25]​.

Early incidents

A first appearance of this fallacy is found in the ancient history of Thales. Aristotle explains that Thales reserved the oil presses before the olive harvest at a discount, only to rent them at a high price when demand peaked, following his predictions of a particularly good harvest. Aristotle attributes Thales' success to his ability to correctly forecast the weather. However, it was not his ability to forecast that made Thales successful, but rather "Thales put himself in a position to take advantage of his lack of knowledge... that he did not need to understand too much of the messages from the stars."

Green wood problem

The greenwood fallacy only becomes a problem (namely, the greenwood problem) when the perpetuation of the fallacy has a high, opaque negative impact. For example:.

Toward the end of the book, Taleb provides examples of the agency and cherry-picking problems, calling them the Robert Rubin problem, the Joseph Stiglitz problem, and the Alan Blinder problem.") In the final chapter, for example, Taleb criticizes Alan Blinder, former vice chairman of the board of governors of the Federal Reserve System, for trying to sell an investment product at Davos in 2008 that would allow an investor to circumvent regulations limiting deposit insurance and benefit from coverage for almost unlimited amounts. Taleb commented that the scheme "would allow the super-rich to defraud taxpayers by obtaining free government-sponsored insurance." He also criticized Blinder for using former regulators to game the system they built and for expressing opposition to bank insurance policies that would harm their business, that is, claiming that what is good for their business is "for good for the public good." denied.[27]​.

Antifragile was a New York Times bestseller and was praised by critics in many notable periodicals, including Harvard Business Review, Fortune magazine,[28]​ New Statesman,[29]​ The Economist, and Forbes. Although Boyd Tonkin of The Independent criticized Taleb's style as "vulgar, silly and infuriating", of the ideas in the book he commented: "again and again he returned to two questions about his central ideas: Is he right, and does it matter? My verdict: Yes, and yes."[30]

Less favorable reviews include Michiko Kakutani of The New York Times, who described the book as "maddening, audacious, repetitive, sententious, intemperate, erudite, reductive, sly, self-indulgent, provocative, pompous, penetrating, insightful and pretentious."[31]

Some of the negative reviews focus on Taleb's style and the overall structure of the book, particularly the difficulty of easily summarizing it in a superficial review. So, although the book has a table of contents, chapter summaries, and a map, a summary of the book is difficult to discern since the headings and summaries of contents have no noticeable pattern and many of the titles are abstruse (e.g., Hungry Donkeys) which the author claims is designed to disadvantage book reviewers by forcing them to read the book in its entirety.