Definition: Black Swan Theory is a decision making concept by Nassim Taleb using a black swan as a metaphor to indicate low-probability, high-impact events that are impossible to forecast or predict with heuristics. |
More on individual decision making: Anchoring Bias, Bayesian Theory, Bounded Rationality, Cognitive Bias, Cognitive Dissonance, more on individual decision making... MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic. |
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