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Most modern technologies have negative consequences that are both unavoidable [dubious – discuss] and unpredictable. [dubious – discuss] For example, almost all environmental problems, from chemical pollution to global warming, are the unexpected consequences of the application of modern technologies.
Examples of US macroeconomic series of interest include but are not limited to Consumption, Investment, Real GNP, and Capital Stock. Factors that are involved in the predictability of an economic system include the range of the forecast (is the forecast two years "out" or twenty) and the variability of estimates.
In economics, a shock is an unexpected or unpredictable event that affects an economy, either positively or negatively. Technically, it is an unpredictable change in exogenous factors—that is, factors unexplained by an economic model—which may influence endogenous economic variables.
Individual random events are, by definition, unpredictable, but if there is a known probability distribution, the frequency of different outcomes over repeated events (or "trials") is predictable. [note 1] For example, when throwing two dice, the outcome of any particular roll is unpredictable, but a sum of 7 will tend to occur twice as often ...
Taleb regards almost all major scientific discoveries, historical events, and artistic accomplishments as "black swans"—undirected and unpredicted. He gives the rise of the Internet, the personal computer, World War I, the dissolution of the Soviet Union, and the September 11, 2001 attacks as examples of black swan events. [2]: prologue
In lobbying for a higher quality of life, for example, one of the top grievances raised by striking Starbucks workers was unpredictable scheduling, a popular practice in which employers don’t ...
The events are assumed to be governed by some random physical phenomena, which are either phenomena that are predictable, in principle, with sufficient information (see determinism); or phenomena which are essentially unpredictable. Examples of the first kind include tossing dice or spinning a roulette wheel; an example of the second kind is ...
The edge of the rainbow, for example, has a fold catastrophe. Due to the wave nature of light, the catastrophe has fine diffraction details described by the Airy function . This is a generic result and does not depend on the precise shape of the water droplet, and so the edge of the rainbow always has the shape of an Airy function.