Black Swan and Extreme Loss Modeling

21 October 2014, 19:38
TipMyPip
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When I read the book of Nassim Nicholas Taleb Black Swan my mind was captured by the beauty of extremely rare events and, concurrently, devastated by the message the book sent: the non-computability of the probability of the consequential rare events using scientific methods (as owed to the very nature of small probabilities).

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