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#nassimnicholastaleb#extremevaluetheory#fattails

Naive empiricism, terrorism & Ebola.

N N Taleb's Probability Questions

106K subscribers • 1 video on Hallway

YouTube
  • Recommended by 2 people: 2 on Hacker News.
  • A classic. People kept recommending it from 2017 to 2021.
  • Presented by Nassim Nicholas Taleb, author and risk analyst
  • An opinion. It argues one side of a question engineers disagree on.

Intermediate. Assumes working knowledge.

51K views9 years ago2 recommendations

Computer scienceMath for programmersClassic machine learning

Nassim Taleb explains the difference between thin-tailed and fat-tailed risk distributions using extreme value theory without complex mathematics.

How "evidence" about the risk of terrorism as shown in the NYT and by BS vending outlets makes no sense statistically. Explains the difference between classes using principles of Extreme Value Theory EVT without any math.

Why it's here

2 people recommend this

What people say. Pointed to as a clear explanation of why comparing fat-tailed risks like pandemics or terrorism to thin-tailed risks is mathematically incorrect.

s3nnyyon Hacker News • Recommends

On “Ask HN: UK Startups – Are You Thinking of Leaving the UK Because of Brexit?”

I will give an alternative explanation why people fear terrorism: Falling from a ladder also kills more people than terrorism, right, but this is not what people are afraid of. Watch this to understand that we're talking about two different distributions: link to this video Terrorism SUDDENLY increases the odds of you being killed by it. And that is what - rightfully - scares people. Example: Before 9/11 the chances of being killed by terrorism was let's say 0.000000.....1%. After 9/11 the chance SUDDENLY increased a hundredfold. That change in probability never ever happened in the distributions of car-accidents, being shot in the US or falling ladders.

nmcaon Hacker News • Recommends

On “Covid-19 and the political economy of mass hysteria [pdf]”

No it isn't, in this case. I think Taleb has the best summary of this, for all his flaws: link to this video In short, risk due to coconuts vs sharks is a valid comparison because we have good priors about growth rates, and they are similar. Coconuts vs covid is a terrible, terrible comparison because again we have good priors on growth but they are mind-bogglingly different functions of time.

21on Hacker News • Mentions

On “Tesla crash in September showed similarities to fatal Mountain View accident”

Funny, Nassim Taleb, a worldwide (if controversial) risk probability expert, would say that you are the one which is being very bad at reasoning with probabilities, because you are putting Ebola and terrorism in the same class of risk as falling off a ladder: link to this video

nmcaon Hacker News • Mentions

On “20 years after 9/11: Will we ever stop taking our shoes off at airports?”

I think Taleb has a point on this topic - the concern is about a forecasted growth rate, not about the current rate. link to this video