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.
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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.
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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.
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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.).
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Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
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Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.