This post was initially written in French, Si personne ne paie pour la preuve, tout le monde paiera pour le sinistre Let’s start with a truism. In ordinary life, just as in economic life, we have to make decisions without ever knowing everything. Every decision involves some uncertainty, and therefore some risk. Some risks are small, manageable, and we barely notice them anymore. Others can have financial consequences large enough that we would rather transfer them to a third party, by paying a premium … Continue …