Extreme events
Extreme events
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Extreme events are significant occurrences that are remarkable, often due to their intensity, impact, or uniqueness. Here are some key insights and examples about different types of extreme events:
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Extreme Economic Events: Dr. Arthur De Vany discusses extreme events in the context of economics, using his book "Hollywood Economics" as a reference. He suggests studying natural events like climate variations, economic impacts of storms and floods as starting points for understanding the economics of such extreme events 1.
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Extreme Climate Events: The discussion on climate change often includes the impact of extreme climate events like hurricanes and droughts. Kerry Emanuel, an expert in meteorology, notes a significant increase in the power of hurricanes over the last 30 years, which he correlates with the rise in tropical Atlantic surface temperatures during the summer. This change highlights the potential impacts of global warming, though data limitations outside the Atlantic present challenges in global assessments. Meanwhile, John Christy emphasizes that other climate variables such as droughts and floods have not shown increased extremes historically 2.
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Extreme Physical and Endurance Events: Extreme physical events can push human capabilities and endurance. In an episode on running, filmmaker Sanjay Rawal discusses the allure of ultra-long-distance running events like the 3100-mile race. He says these endurance challenges attract those interested in exploring their physical and mental boundaries, transforming running into a meditative and highly conscious state, requiring a different mindset beyond standard marathons 3.
Exploring Extreme Events
Dr. Arthur De Vany shares starting points for self-education on extreme events, including his book "Hollywood Economics" and studying climate science. He also discusses the importance of arbitrage in efficient markets and the power of comparing prices.
Tim Ferriss Show
Dr. Arthur De Vany Interview | The Tim Ferriss Show (Podcast)123
These topics offer a glimpse into how extreme events are perceived and analyzed across different disciplines, each presenting unique challenges and insights.