Ethical Decision-Making
Russ emphasizes the importance of treating his role as if he has a lifetime contract, highlighting the ethical implications of short-term decision-making. He acknowledges the natural tendency to prioritize immediate benefits over long-term success, urging awareness of these incentives. Luca adds that companies should also consider the long-term well-being of their employees, creating a framework where both parties align their time horizons for mutual benefit.In this clip
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EconTalk
Luca Dellanna on Risk, Ruin, and Ergodicity
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