About Me
I’m Charles Fitzgerald and this is my blog. I write infrequently and nominally on the economics of platforms, or whatever else captures my interest.
Follow Me on Twitter.
Tag Archives: Uncertainty
Taleb on Suckers
Extraordinarily timely Taleb essay on Edge.org: Statistics can fool you. In fact it is fooling your government right now. It can even bankrupt the system (let’s face it: use of probabilistic methods for the estimation of risks did just blow … Continue reading
Toto, We’re Not in Mediocristan Any More
More on the poor applicability of financial models to the real world from the Economist: Goldman Sachs admitted as much when it said that its funds had been hit by moves that its models suggested were 25 standard deviations away from normal. In … Continue reading
Or Maybe Your Model Leaves Something to be Desired…
From last week’s WSJ (requires a paid subscription for now, pending Rupert’s next move): “Wednesday is the type of day people will remember in quant-land for a very long time,” said Mr. Rothman, a University of Chicago Ph.D. who ran … Continue reading
Book Review: The Black Swan
The Black Swan, by Nassim Nicholas Taleb is sort of a follow-up to his earlier Fooled By the Randomness, which dealt with why people are poorly suited to decision-making in the face of uncertainty. The Black Swan deals with the … Continue reading