[A “Black Swan” is:] A random event satisfying the following three properties: large impact, incomputable probabilities, and surprise effect. First, it carries upon its occurrence a disproportionately large impact. Second, its incidence has a small but incomputable probability based on information available prior to its incidence. Third, a vicious property of a Black Swan is its surprise effect: at a given time of observation there is no convincing element pointing to an increased likelihood of the event. | |
— Nassim Nicholas Taleb | |
Quoted from his book: “Fooled By Randomness“ | |
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Archive for July 12th, 2011
Seen Any Black Swans Lately?
Posted in Philosophy, Quotes, tagged Black Swan, Fooled By Randomness, Nassim Nicholas Taleb, Philosophy, Quotes on July 12, 2011| Leave a Comment »