It’s a good question. If you ever do, say, project estimates at work, and look back at your track record, most of us would give 99% odds of completion to some project within a given time (well padded to make it that high), and still notice that we go over time and/or over budget way more often than that. There are exceptions, but in general we suck at taking into account long tails.
Can you add some more explanation of what ones “fallibility level” might be?
It’s a good question. If you ever do, say, project estimates at work, and look back at your track record, most of us would give 99% odds of completion to some project within a given time (well padded to make it that high), and still notice that we go over time and/or over budget way more often than that. There are exceptions, but in general we suck at taking into account long tails.