Clearly, the Babylonians understood that the builder will always know more about the risks than the client, and can hide fragilities and improve his profitability by cutting corners—in, say, the foundation. The builder can also fool the inspector (or the regulator). The person hiding risk has a large informational advantage over the one looking for it. The potency of the classical rule lies in the idea that people do not consciously wish to harm themselves. We feel much safer on a plane be- cause the pilot, and not a drone, is at the controls. This principle has been applied by all.
