The Black Swan theory, developed by philosopher and statistician Nassim Nicholas Taleb, refers to highly improbable and unpredictable events that have significant consequences. The term "Black Swan" originates from the historical belief that all swans were white, as the discovery of black swans in Australia challenged that notion and illustrated that an unexpected event could upend established assumptions. Key characteristics of Black Swan events include: 1. **Unpredictability**: These events are not forecastable based on past experiences or data.
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