Aug 31, 2018 · 1 min read
Is there ANY (real world) phenomenon that the i.i.d Gaussian represents? Folks love it because you only need 2 parameters to specify “everthing” — and if time is involved “everything” means for all time.
Once you get past the “small variations happen a lot more than large ones” you are in deep yoghurt. Read Taleb. He explains it all pretty well.