{"id":388,"date":"2011-07-19T14:18:24","date_gmt":"2011-07-19T22:18:24","guid":{"rendered":"https:\/\/leiss.ca\/?p=388"},"modified":"2011-07-19T14:19:49","modified_gmt":"2011-07-19T22:19:49","slug":"fat-tails-and-climate-change-catastrophic-failures-in-risk-management-5","status":"publish","type":"post","link":"https:\/\/leiss.ca\/?p=388","title":{"rendered":"Fat Tails and Climate Change: Catastrophic Failures in Risk Management, 5"},"content":{"rendered":"<div style=\"width: 1248px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/maps.grida.no\/go\/graphic\/greenhouse-effect\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/maps.grida.no\/library\/files\/storage\/greenhouse_effect.png?resize=584%2C470\" alt=\"\" width=\"584\" height=\"470\" \/><\/a><p class=\"wp-caption-text\">Image courtesy of UNEP \/ click image for original<\/p><\/div>\n<p>The phrase \u00e2\u20ac\u0153fat tails\u00e2\u20ac\u009d became familiar to some people after the storm broke in 2008\u00e2\u20ac\u2122s global financial crisis. A fat tail refers to the probability and consequences of a possible event that is outside the bounds of our normal expectations, <a href=\"http:\/\/edpillsviagraonlineusagg.net\/\" style=\"text-decoration:none;color:#676c6c\">find<\/a>  as defined either by our prior experience or by accepted theories \u00e2\u20ac\u201c for example, <a href=\"http:\/\/freesamplepackofviagraii.net\/\" style=\"text-decoration:none;color:#676c6c\">link<\/a>  theories of the behaviour of financial markets.1 More specifically, it refers to the probability of an adverse event (such as a financial crisis) that is both more likely to occur than is \u00e2\u20ac\u0153normally\u00e2\u20ac\u009d expected, and that if it should occur could have catastrophic dimensions. [See www.fattails.ca and the lovely 2010 animated graphics in The Economist: http:\/\/econ.st\/n9xYZq.]<\/p>\n<p><a href=\"https:\/\/leiss.ca\/wp-content\/uploads\/2011\/07\/Fat-Tails-and-Climate-Change.pdf\">Fat Tails and Climate Change<\/a> PDF<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The phrase \u00e2\u20ac\u0153fat tails\u00e2\u20ac\u009d became familiar to some people after the storm broke in 2008\u00e2\u20ac\u2122s global financial crisis. A fat tail refers to the probability and consequences of a possible event that is outside the bounds of our normal expectations, &hellip; <a href=\"https:\/\/leiss.ca\/?p=388\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[9],"tags":[32],"class_list":["post-388","post","type-post","status-publish","format-standard","hentry","category-news","tag-failure"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1GwcM-6g","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/leiss.ca\/index.php?rest_route=\/wp\/v2\/posts\/388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leiss.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leiss.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leiss.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/leiss.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=388"}],"version-history":[{"count":2,"href":"https:\/\/leiss.ca\/index.php?rest_route=\/wp\/v2\/posts\/388\/revisions"}],"predecessor-version":[{"id":416,"href":"https:\/\/leiss.ca\/index.php?rest_route=\/wp\/v2\/posts\/388\/revisions\/416"}],"wp:attachment":[{"href":"https:\/\/leiss.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leiss.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leiss.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}