Didier Sornette: Prediction of Crises and Extreme Events in Complex Systems

Extreme fluctuations or events are often associated with power law
statistics. In his speech, Prof. Dr. Didier Sornette (ETH Zürich),
documents that in several systems is life beyond power law tails:
Power laws can be supersedes by "kings" monster events. These
events reveal hidden mechanisms that are only transiently active
and that amplify the normal power law fluctuations.