Gas Week

EWN Publishing

Archive for the ‘Risk Assessment’ Category

“Black swan” event, lies outside regular expectations, and has an extreme impact

Posted by gasweek on 18 September, 2007

Nassim Nicholas Taleb in his book The Black Swan (Random House, 2007) explains how a “black swan” event lies outside regular expectations and has an extreme impact, according to Leon Gettler in The Age (5/9/2007, p.14). Taleb, a former trader who worked in quants – the funds that use complex and sophisticated mathematical algorithms to search for anomalies and non-obvious patterns in markets – is taking a break and working in the sciences of uncertainty at the University of Massachusetts.

Read the rest of this entry »


Posted in Risk Assessment, Unknowns, Volume 2520 | Leave a Comment »