Traditionally in economics black swan is an unpredictable negative event.
replyThe only thing that is unsettled here still is how many more people will lose their jobs and how much cumulative loss prisoner's dilemma will generate.
I saw random people on Internet suggesting to piggyback this disaster and dip into the crazy money that it is "generating", but in a zero-sum game somebody has to lose.
As I understand it, it's something unpredictable and high-consequence, not necessarily negative. The origins are in Hume's problem of induction. https://en.wikipedia.org/wiki/Problem_of_induction
replyThe description I remember is the idea of holding the belief “all swans are white” until one encounters a black swan, and having to update their beliefs accordingly. What does this mean about swans?
replyBut maybe that’s not the intended meaning either? It’s an interesting expression.
Yes. And ultimately the colour of swans in Western Australia impacts… almost nothing at all.
reply.. save decisions about cycling w/out lights around Perry Lakes at night.
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