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REMOVE SKIN In the GAME:  Like “What would you do?”

John Peter shared this link

 

REMOVE SKIN IN THE GAME.
Recall from Antifragile and earlier discussions here that a doctor’s answer would be different if you put (emotionally speaking) his skin in the game by asking him “what would you do?” instead of “what should I do?”

The opposite works equally well.

A trick I did use as a trader: under pressure, to remove the emotional burden and the loss of mental clarity, you imagine that you are someone else in the situation.

That someone else should be some precise person, in flesh and blood, say X.

What should X do now? buy more? liquidate, etc.

It applies to any decision, say “should X buy this house?”

You can use the strategy in a lot of dilemmas. Replace yourself with X, and ask: “should X resign because of ethics?”


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June 2020
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