Fooled by RandomnessThis is a featured page

Fooled by Randomness: The Hidden Role of Chance in Markets and Life
by Nassim Taleb
W. W. Norton & Company (October 2001)

Summary

Describes in a straightforward and accessable manner how people often (usually) mistake the role of chance in success. What is really the result of the laws of chance for large numbers looks, to many, like smart people making good decisions. What is really being observed is 'survivorship bias' in which the one success is lauded and the thousand others that failed along the way are ignored.

Rating and opinion

Fooled by Randomness - The Process of InnovationFooled by Randomness - The Process of InnovationFooled by Randomness - The Process of Innovation
Provides a good antidote to the normal credulous business screed. Taleb can be pretentious at times but his insights and analysis are right on target.

Related

Read as Well: Reinventing the Bazaar

Read Instead: none

Footprint

280 pages
Time to Read: 2 nights
Content Density: 40% (good)
Interest Factor: High



laschmitt
laschmitt
Latest page update: made by laschmitt , Apr 6 2007, 4:40 PM EDT (about this update About This Update laschmitt Edited by laschmitt

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