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Chapter 1: Inadequacy and Modesty | Inadequate Equilibria

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There are two approaches to thinking about outperformance that yield extraordinarily different results: modesty, and inadequacy analysis.

Chapter 1: Inadequacy and Modesty | Inadequate Equilibria Inadequate Equilibria --> Chapter 1 Inadequacy and Modesty This is a book about two incompatible views on the age-old question: “When should I think that I may be able to do something unusually well ?” These two viewpoints tend to give wildly different, nearly cognitively nonoverlapping analyses of questions like: My doctor says I need to eat less and exercise, but a lot of educated-sounding economics bloggers are talking about this thing called the “Shangri-La Diet.” They’re saying that in order to lose weight, all you need to do is co

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