In this episode, we discuss the treatment of risks from governments during the Coronavirus Pandemic, the various approaches adopted, and the challenges faces in perceiving and understanding different types of risk. Drawing from the works of Nassim Nicholas Taleb, we discuss the difference in Ensemble vs Time probability, as well as the concepts of ruin and how they overhaul our analysis of risk. We then go on to talk about pisoners dilemmas, what they are, the various forms, and common examples we may witness today.  

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Sources: The FT - Gillian Tett: Against the Odds  

N. N. Taleb: Statistical Consequences of Fat Tails (CH 3): https://arxiv.org/abs/2001.10488 

N. N. Taleb: Skin in the Game (CH 19): https://www.amazon.co.uk/Skin-Game-Hidden-Asymmetries-Daily/dp/0241247470 

N. N. Taleb: Tail Risk of Contagious Diseases: https://arxiv.org/abs/2004.08658 

Derek Parfit: Reasons and Persons: https://www.amazon.co.uk/Reasons-Persons-Oxford-Paperbacks-Parfit/dp/019824908X  

Music: Nocturne in B Flat Minor, Op. 9 No. 1: "A Madame Camille Pleyel" · François Chaplin  Chopin: Nocturnes  ℗ 2013 Zig-Zag Territoires ℗ Anima Eterna  Released on: 2010-03-01  Composer: Frédéric Chopin