Black swans are
A) found only in Australia
B) found in Australia and Japan
C) birds with fat tails
D) very low probability, previously unobserved events

Question

Quizplus · Accepted Answer

Black swans are used in the context of risk management to describe events that have a low probability of occurring but, if they do occur, have significant consequences. The term was popularized by Nassim Nicholas Taleb in his book "The Black Swan: The Impact of the Highly Improbable." Black swans are not just limited to Australia, and they do not have fat tails.

Black Swans Are