Tag Archives: edge.org


Standard Deviation

The notion of standard deviation has confused hordes of scientists; it is time to retire it from common use and replace it with the more effective one of mean deviation. Standard deviation, STD, should be left to mathematicians, physicists and mathematical statisticians deriving limit theorems. There is no scientific reason to use it in statistical investigations in the age of the computer, as it does more harm than good—particularly with the growing class of people in social science mechanistically applying statistical tools to scientific problems.

Say someone just asked you to measure the “average daily variations” for the temperature of your town (or for the stock price of a company, or the blood pressure of your uncle) over the past five days. The five changes are: (-23, 7, -3, 20, -1). How do you do it?

via Edge.org.

The Edge piece is up!

The Edge piece is up! Thanks friends for the help & discussions.


Understanding Is A Poor Substitute For Convexity (antifragility)

NASSIM NICHOLAS TALEB, essayist and former mathematical trader, is Distinguished Professor of Risk Engineering at NYU’s Polytechnic Institute. He is the author the international bestseller The Black Swan and the recently published Antifragile: Things That Gain from Disorder.

via The Edge piece is… | Facebook.

Nassim Nicholas Taleb | Profile at Edge

Edge.org : People

Nassim Nicholas Taleb

Distinguished Professor of Risk Engineering, NYU-Poly; Author, The Black Swan

NASSIM NICHOLAS TALEB is a former derivatives trader turned researcher specializing in problems of probability and uncertainty, which includes decision-making under incomplete information and understanting. His work covers both technical and philosophical problems with probability, including issues of political stability, statistical mechanics, fragility of systems, psychological biases, and systems of ethics.

Taleb is currently Distinguished Professor of Risk Engineering at New York University’s Polytechnic Institute. Before starting a career as a belletrist-researcher in 2005, Taleb held senior trading and “quant” positions in derivatives with trading houses in New York and London and managed his own portfolio  boutique. His degrees include an MBA from the Wharton School and a Ph.D. from the University of Paris.

He is the author of Dynamic HedgingFooled by Randomness, and The Black Swan.

He considers himself an Edge Activist—a member of the “literary and empirical community of scientists-philosophers”.


Conversations at Edge [+]


via Nassim Nicholas Taleb | Profile at Edge.