Didier Darcet
1 May 2019

Introduction to Financial Entropy

Our previous letters on “Antifragility Revisited” principally dealt with the economic and financial meanings of fragility. A necessary step to progress on the theory is to now turn to scientific analogies. This letter focuses on the most profound yet troublesome, and contrived concept of modern science: entropy. It introduces the founding ground of a scientific definition of fragility.