Scott Page: Big winners in positive-feedback markets depend as much on luck as skill
Scott Page · #55 Scott Page: Becoming a Model Thinker · Apr 2, 2019 · at 1:06:54
Complex systems professor Scott Page explains how preferential attachment creates power law distributions in commercial markets such as book sales.
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“If you thought, no, this person sold these books because they're just so much better, right? That's a very different story than if you say, no, just the natural process of people buying books leads to big winners. Then you start realizing, you know, the big winners are as much luck as they are skill.”
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