Sublime

Identifying value-creating opportunities requires probing for the underlying interests of each side, rather than playing the traditional game of positional bargaining.

So, awareness of the problem, a common knowledge, awareness that others know, you know that the others are aware of the problem, the generation of common knowledge.

Similarly at equilibrium there’s no incentive for any agents to diverge from their present behavior—that’s the definition of an equilibrium. Therefore, exploitive behavior can’t happen. A subtle, muted, unconscious bias precludes ideas of exploitation or collapse.

Because of the widespread instability, it’s not enough for a business to be the market leader or the most profitable company. Rather the stake is to take the vast majority of the market[254], at (almost) any cost. Those who generate superior increasing returns to scale can crush competition and realize a sizable return on investment over the long t

I believe Lebow and Spitzer are right; consciously or unconsciously, all too often we use feedback to try to mold other people into how we believe they should be.

Il s’agit en effet d’une formule qui permet une adaptation souple des régimes de retraite à un environnement incertain. Dans un régime par répartition en annuités, toute remise en cause de tel ou tel paramètre est susceptible de pénaliser lourdement une catégorie particulière d’assurés sociaux et de créer des inégalités choquantes entre générations

The economy is not a closed static equilibrium system; it is a system perpetually open to novel behavior, and complexity economics forces us to keep this in mind.