What does author mean to pay more attention to tail risks

Reference no: EM133383459

Question: What does author mean to "pay more attention to tail risks?" Based on the article, how can you use a normal distribution of a known population to better understand risk? What are 'fat tails' and how do they impact risk assessment? Should we pay attention to high probability impacting large swaths of the population or low probability (high consequence) events that impact potentially larger segments of the population?

Reference no: EM133383459

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