The Black Swan: Second Edition: The Impact of the Highly Improbable: With a New Section: "On Robustness and Fragility" (Paperback)

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Description


"The Black Swan "is a standalone book in Nassim Nicholas Taleb's landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don't understand. The other books in the series are "Fooled by Randomness, Antifragile, "and "The Bed of Procrustes."
A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.
Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don't know. We are, therefore, unable to truly estimate opportunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the "impossible."
For years, Taleb has studied how we fool ourselves into thinking we know more than we actually do. We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world. In this revelatory book, Taleb explains everything we know about what we don't know, and this second edition features a new philosophical and empirical essay, "On Robustness and Fragility," which offers tools to navigate and exploit a Black Swan world.
Elegant, startling, and universal in its applications, "The Black Swan" will change the way you look at the world. Taleb is a vastly entertaining writer, with wit, irreverence, and unusual stories to tell. He has a polymathic command of subjects ranging from cognitive science to business to probability theory. "The Black Swan" is a landmark book--itself a black swan.
Praise for Nassim Nicholas Taleb
"The most prophetic voice of all.""--GQ"
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Praise for "The Black Swan"
" A book] that altered modern thinking."--"The Times" (London)
"A masterpiece."--Chris Anderson, editor in chief of "Wired, "author of" The Long Tail"
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"Idiosyncratically brilliant."--Niall Ferguson, "Los Angeles Times"
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""The Black Swan" changed my view of how the world works."--Daniel Kahneman, Nobel laureate
" Taleb writes] in a style that owes as much to Stephen Colbert as it does to Michel de Montaigne. . . . We eagerly romp with him through the follies of confirmation bias and] narrative fallacy.""--The Wall Street Journal"
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"Hugely enjoyable--compelling . . . easy to dip into."--"Financial Times"
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"Engaging . . . "The Black Swan" has appealing cheek and admirable ambition.""--The New York Times Book Review"

"From the Hardcover edition.

About the Author


Nassim Nicholas Taleb is an essayist principally concerned with the problems of uncertainty and knowledge. Taleb's interests lie at the intersection of philosophy, mathematics, finance, literature, and cognitive science but he has stayed extremely close the ground thanks to an uninterrupted two-decade career as a mathematical trader. Specializing in the risks of unpredicted rare events (black swans"), he held senior trading positions in New York and London before founding Empirica LLC, a trading firm and risk research laboratory. Taleb is a fellow at the Courant Institute of Mathematical Science of New York University where he has been teaching a class on the failure of models since 1999. He has an MBA from the WhartonSchool and a Ph.D. from The University of Paris Dauphine.

Praise For…


The Black Swan changed my view of how the world works.”—Daniel Kahneman, Nobel laureate
 
“Hugely enjoyable—compelling . . . easy to dip into.”—Financial Times
 
“A masterpiece.”—Chris Anderson, author of The Long Tail 
 
“Idiosyncratically brilliant.”—Niall Ferguson, Los Angeles Times

Product Details
ISBN: 9780812973815
ISBN-10: 081297381X
Publisher: Random House Trade
Publication Date: May 11th, 2010
Pages: 480
Language: English