Rare eventsRare or extreme events are events that occur with low frequency, and often refers to infrequent events that have a widespread effect and which might destabilize systems (for example, stock markets, ocean wave intensity or optical fibers or society). Rare events encompass natural phenomena (major earthquakes, tsunamis, hurricanes, floods, asteroid impacts, solar flares, etc.), anthropogenic hazards (warfare and related forms of violent conflict, acts of terrorism, industrial accidents, financial and commodity market crashes, etc.
Financial modelingFinancial modeling is the task of building an abstract representation (a model) of a real world financial situation. This is a mathematical model designed to represent (a simplified version of) the performance of a financial asset or portfolio of a business, project, or any other investment. Typically, then, financial modeling is understood to mean an exercise in either asset pricing or corporate finance, of a quantitative nature. It is about translating a set of hypotheses about the behavior of markets or agents into numerical predictions.
Hydrological modelA hydrologic model is a simplification of a real-world system (e.g., surface water, soil water, wetland, groundwater, estuary) that aids in understanding, predicting, and managing water resources. Both the flow and quality of water are commonly studied using hydrologic models. Prior to the advent of computer models, hydrologic modeling used analog models to simulate flow and transport systems. Unlike mathematical models that use equations to describe, predict, and manage hydrologic systems, analog models use non-mathematical approaches to simulate hydrology.
Black swan theoryThe black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. The term is based on an ancient saying that presumed black swans did not exist - a saying that became reinterpreted to teach a different lesson after they were discovered in Australia.
Stochastic modelling (insurance)This page is concerned with the stochastic modelling as applied to the insurance industry. For other stochastic modelling applications, please see Monte Carlo method and Stochastic asset models. For mathematical definition, please see Stochastic process. "Stochastic" means being or having a random variable. A stochastic model is a tool for estimating probability distributions of potential outcomes by allowing for random variation in one or more inputs over time.
Ecosystem modelAn ecosystem model is an abstract, usually mathematical, representation of an ecological system (ranging in scale from an individual population, to an ecological community, or even an entire biome), which is studied to better understand the real system. Using data gathered from the field, ecological relationships—such as the relation of sunlight and water availability to photosynthetic rate, or that between predator and prey populations—are derived, and these are combined to form ecosystem models.
Recent human evolutionRecent human evolution refers to evolutionary adaptation, sexual and natural selection, and genetic drift within Homo sapiens populations, since their separation and dispersal in the Middle Paleolithic about 50,000 years ago. Contrary to popular belief, not only are humans still evolving, their evolution since the dawn of agriculture is faster than ever before. It has been proposed that human culture acts as a selective force in human evolution and has accelerated it; however, this is disputed.
Extreme weatherExtreme weather includes unexpected, unusual, severe, or unseasonal weather; weather at the extremes of the historical distribution—the range that has been seen in the past. Extreme events are based on a location's recorded weather history. They are defined as lying in the most unusual ten percent (10th or 90th percentile of a probability density function). The main types of extreme weather include heat waves, cold waves and heavy precipitation or storm events, such as tropical cyclones.
Extreme programmingExtreme programming (XP) is a software development methodology intended to improve software quality and responsiveness to changing customer requirements. As a type of agile software development, it advocates frequent releases in short development cycles, intended to improve productivity and introduce checkpoints at which new customer requirements can be adopted.
Model (person)A model is a person with a role either to promote, display or advertise commercial products (notably fashion clothing in fashion shows) or to serve as a visual aid for people who are creating works of art or to pose for photography. Though models are predominantly female, there are also male models, especially to model clothing. Models may work professionally or casually. Modelling ("modeling" in American English) is considered to be different from other types of public performance, such as acting or dancing.
