Assessing Catastrophes-Dragon-Kings, Black, and Gray Swans-for Science-Policy

Rainfall and Dragon-Kings

Previous studies have found broad distributions, resembling power laws for different measures of the size of rainfall events. We investigate the large-event tail of these distributions and find in one measure that tropical cyclones account for a large proportion of the very largest events outside the scaling regime, i.e., beyond the cutoff of the power law. Tropical cyclones are sufficiently ra...

Waiting for medicine's black swans.

Dragon-kings: Mechanisms, statistical methods and empirical evidence

This introductory article presents the special Discussion and Debate volume “From black swans to dragon-kings, is there life beyond power laws?” We summarize and put in perspective the contributions into three main themes: (i) mechanisms for dragon-kings, (ii) detection of dragon-kings and statistical tests and (iii) empirical evidence in a large variety of natural and social systems. Overall, ...

Statistical Outliers and Dragon-Kings as Bose-Condensed Droplets

A theory of exceptional extreme events, characterized by their abnormal sizes compared with the rest of the distribution, is presented. Such outliers, called “dragonkings”, have been reported in the distribution of financial drawdowns, city-size distributions (e.g., Paris in France and London in the UK), in material failure, epileptic seizure intensities, and other systems. Within our theory, t...

Yield of Black Swans

h EXCEPT FOR GETTING your chip to market on time, optimizing yield is perhaps the most important thing we can do to improve IC profitability. We address this problem in several ways: design for manufacturability (DFM) through layout rules, process control, and increasingly clean cleanrooms. In an ideal world, this would solve our yield problems. We know it doesn’t, so we build a diagnostic capa...