Fooled by Randomness: The Hidden Role of Chance in Business and Life

Randomness, luck, chance, uncertainty, probability, human errors, risk, and decision-making in a world we do not understand are inexhaustible themes explored by successful trader, mathematician, and philosopher Nassim Taleb, preparing us for a worthy encounter face-to-face with challenges and unforeseen events of any kind.
“Probability is not so much the calculation of chances when throwing dice, but rather the acknowledgment of the lack of certainty in our knowledge and the development of methods to cope with our ignorance. Beyond textbooks and casinos, probability almost never presents itself as a mathematical problem or a riddle for the mind. Mother Nature will not tell you how many slots there are on the roulette table, and she does not formulate problems in the style accepted in textbooks (in the real world, you have to look for the problem, not the solution). The probabilistic thinking underlying this book suggests that if alternative outcomes had occurred, the world would be different.” (N. Taleb)