Notes on: Biondo, A. P. A. E., & Rapisarda, A. (2018): Talent vs luck: the role of randomness in success and failure

Table of Contents

Notation

  • biondo18_talen_vs_luck_e10e2b430f95617381cdd6d6b52aed29fb971dff.png individuals
  • biondo18_talen_vs_luck_1de33c2ddecdf80be26e252a6a50e438629d7de0.png denotes a talent (e.g. intelligence, skills) for i-th individual
  • biondo18_talen_vs_luck_fb0b7a9eed91972c5bdbda5e54631b1dac57b12d.png denotes a certain number of "moving events", someone lucky, someone unlucky
  • biondo18_talen_vs_luck_46e4aa743dc116ab8f08fcec9fdd232ce791fe5f.png and biondo18_talen_vs_luck_09be29f48e27f9b3d70dac127f67f794a760cff3.png denotes the probabilities of lucky and unlucky, respectively
  • biondo18_talen_vs_luck_95ee7e1342a0282175a26b38854d4f1b9a03db13.png denotes the number of individuals with talent biondo18_talen_vs_luck_fe74bd7091ca472b7701fa30f6046b1da946a580.png with final sucess/capital biondo18_talen_vs_luck_3ce86b2b6ad2081db452169c4b1ad66b1afe8182.png
  • biondo18_talen_vs_luck_0e567efb98a8c58d99a253500577092e4608f099.png denotes the increment in average percentage biondo18_talen_vs_luck_f4d486fd757bf174cac15c5dcaa8356bd5038fd8.png of talented people which, during their career, increase their initial capital / success wrt. biondo18_talen_vs_luck_3053e0b9d43b6d233fcc0c87286cc2ae6b84054c.png

Assumptions

  • Talent is time-independent
  • Event-points randomly move around the world

Questions

TODO Actions give quadratic growth / decrease wrt. capital; surely this "encourages" a power-law distribution?