Luca Dellanna on Risk, Ruin, and Ergodicity

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4.7 • 4.3K Ratings

🗓️ 29 May 2023

⏱️ 68 minutes

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Summary

Author and consultant Luca Dellanna talks with EconTalk host Russ Roberts about the importance of avoiding ruin when facing risk. Along the way Dellanna makes understandable the arcane concept of ergodicity and shows the importance of avoiding ruin in every day life.

Transcript

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0:00.0	Welcome to Econ Talk, Conversations for the Curious, part of the Library of Economics and Liberty.
0:07.8	I'm your host, Russ Roberts of Shalem College in Jerusalem and Stanford University's Hoover
0:12.7	Institution.
0:13.7	Go to econtalk.org where you can subscribe, comment on this episode and find links down
0:18.6	the information related to today's conversation.
0:21.4	You'll also find our archives, but every episode we've done going back to 2006.
0:26.8	Our email address is mail at econtalk.org.
0:30.3	We'd love to hear from you.
0:37.8	Today is April 27, 2023.
0:40.2	My guest is consultant and author, Luca Delano.
0:44.4	This is Luca's second appearance on econ talk.
0:47.6	He was first here in February of 2022, talking about compulsion, self-deception and the brain.
0:55.9	Our topic for today is his book, Ergidicity.
0:59.0	A word, I suspect many of you listening have never heard of.
1:03.0	Despite the strangeness of the title, I think it's an incredibly interesting concept, an
1:09.1	incredibly important concept, and a lovely book.
1:13.0	And while Luca concedes that many of the ideas in his book come from others, not some
1:18.1	tolleb and olpeters, for example, he has managed to write a superb and completely accessible
1:24.4	treatment of a very complicated subject.
1:28.7	Luca, welcome back to econtalk.
1:31.3	Thank you, Vasva, for having me again here.
1:34.4	So let's start with your cousin who is a skier.
	...

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