Articles

The black swan theory was developed by the scholar Nassim Nicholas Taleb to describe unforeseeable, low probability events with significant consequences.

Uncertainty accompanies most individual and collective decisions. Given the unknown probabilities of available options, people make choices based on experience. But this way of functioning is biased: it leads to underestimating or ignoring rare events. This could explain, for example, why in 2005 only half of the colossal damage caused by the North Atlantic hurricanes in the U.S. was covered by (...)

Read more

Habit, genetic factors, socieconomic background, wealth, standards of living, family size, (...)

Read more