The BP Spill as a Black Swan Event

    For context in understanding the oil spill, and to help answer the question “How could it possibly be this bad?”, I recommend a book by Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable. The BP spill is a textbook example of what Taleb calls a Black Swan Event. The event is a surprise (to the observer). The event has a major | Read More »

    The BP Spill as a Black Swan Event

    For context in understanding the oil spill, and to help answer the question “How could it possibly be this bad?”, I recommend a book by Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable. The BP spill is a textbook example of what Taleb calls a Black Swan Event. The event is a surprise (to the observer). The event has a major | Read More »