Title
Statistical Consequences Of Fat Tails: Real World Preasymptotics, Epistemology, And Applications (Technical Incerto)
Delivery time: 8-12 business days (International)
The Book Investigates The Misapplication Of Conventional Statistical Techniques To Fat Tailed Distributions And Looks For Remedies, When Possible. Switching From Thin Tailed To Fat Tailed Distributions Requires More Than Changing The Color Of The Dress. Traditional Asymptotics Deal Mainly With Either N=1 Or N=8, And The Real World Is In Between, Under The Laws Of The Medium Numberswhich Vary Widely Across Specific Distributions. Both The Law Of Large Numbers And The Generalized Central Limit Mechanisms Operate In Highly Idiosyncratic Ways Outside The Standard Gaussian Or Levystable Basins Of Convergence. A Few Examples: The Sample Mean Is Rarely In Line With The Population Mean, With Effect On Nave Empiricism, But Can Be Sometimes Be Estimated Via Parametric Methods. The Empirical Distribution Is Rarely Empirical. Parameter Uncertainty Has Compounding Effects On Statistical Metrics. Dimension Reduction (Principal Components) Fails. Inequality Estimators (Gini Or Quantile Contributions) Are Not Additive And Produce Wrong Results. Many Biases Found In Psychology Become Entirely Rational Under More Sophisticated Probability Distributions. Most Of The Failures Of Financial Economics, Econometrics, And Behavioral Economics Can Be Attributed To Using The Wrong Distributions. This Book, The First Volume Of The Technical Incerto, Weaves A Narrative Around Published Journal Articles.
By changing our most important processes and
products, we have already made a big leap forward. This ranges from the
increased use of more sustainable fibers to the use of more
environmentally friendly printing processes to the development of
efficient waste management in our value chain.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
Secure Payment
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.
Secure Payment
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.
Related Products
You may also like
Frequently Asked Questions
- Q: What is the main focus of 'Statistical Consequences of Fat Tails'? A: The book examines the misapplication of traditional statistical techniques to fat-tailed distributions and seeks remedies for these issues.
- Q: Who is the author of this book? A: The author of 'Statistical Consequences of Fat Tails' is Nassim Nicholas Taleb.
- Q: What is the publication date of this book? A: The book was published on June 30, 2020.
- Q: How many pages does the book contain? A: The book contains 441 pages.
- Q: What type of binding does this book have? A: The book is available in hardcover binding.
- Q: What category does this book fall under? A: The book falls under the category of Probability & Statistics.
- Q: What are some key topics covered in the book? A: Key topics include the law of large numbers, parameter uncertainty, dimension reduction, and biases in psychology related to probability distributions.
- Q: Is this book suitable for beginners in statistics? A: This book is more suitable for readers with some background in statistics, as it delves into advanced concepts related to fat-tailed distributions.
- Q: Can this book help with practical applications in finance? A: Yes, the book discusses failures in financial economics due to the misapplication of statistical techniques, providing insights for practical applications.
- Q: What is the significance of fat-tailed distributions in statistics? A: Fat-tailed distributions are significant as they better represent real-world phenomena compared to traditional thin-tailed distributions, especially in fields like finance and economics.