Explainability is at the core of several phenomena related to the integration of knowledge held by different actors (including the currently popular case involving machine intelligence and humans). We propose that there are inescapable limits to explainability that arise from the joint effects...

Consider a simple two-state risk with equal probabilities for the two states. In particular, assume that the random wealth variable Xi dominates Yi via ith-order stochastic dominance for i = M,N. We show that the 50-50 lottery [XN + YM, YN + XM] dominates the lottery [XN + XM, YN + YM] via (N +...