Option traders use a heuristically derived pricing formula which they adapt by fudging and changing the tails and skewness by varying one parameter, the standard deviation of a Gaussian. Such formula is popularly called "Black-Scholes-Merton" owing to an attributed eponymous discovery (though...

Analyse dessen, was eigentlich nie passieren dürfte, was jedoch ständig geschieht und unser Leben gewaltig beeinflusst, was mithilfe statistischer Modelle permanent aus unserem Denken ausgeblendet wird. (Joachim Weigelt)