Taleb, Nassim Nicholas Der: Schwarze Schwan (2...

: A domain where one single observation can impact the total disproportionately. Examples include wealth, book sales, or social media followers. This is the birthplace of the Black Swan, where averages are meaningless and traditional statistics fail. Key Cognitive Biases

Taleb argues that humans are "hardwired" to ignore Black Swans due to several psychological traps: Go to product viewer dialog for this item. The Black Swan: The Impact of the Highly Improbable Taleb, Nassim Nicholas Der Schwarze Schwan (2...

: A domain where single events do not dramatically change the whole. Examples include height or weight; no matter how tall a person is, they cannot significantly change the average of a million people. Here, the "Bell Curve" (Gaussian distribution) is useful. : A domain where one single observation can