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Exploring the role of talent and luck in getting success

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  • Alessandro Pluchino
  • Alessio. E. Biondo
  • Andrea Rapisarda

Abstract

We review recent numerical results on the role of talent and luck in getting success by means of a schematic agent-based model. In general the role of luck is found to be very relevant in order to get success, while talent is necessary but not sufficient. Funding strategies to improve the success of the most talented people are also discussed.

Suggested Citation

  • Alessandro Pluchino & Alessio. E. Biondo & Andrea Rapisarda, 2018. "Exploring the role of talent and luck in getting success," Papers 1811.05206, arXiv.org.
    • Handle: RePEc:arx:papers:1811.05206
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    References listed on IDEAS

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    1. A. E. Biondo & A. Pluchino & A. Rapisarda, 2015. "Modelling Financial Markets by Self-Organized Criticality," Papers 1507.04298, arXiv.org, revised Oct 2015.
    2. Liran Einav & Leeat Yariv, 2006. "What's in a Surname? The Effects of Surname Initials on Academic Success," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 175-187, Winter.
    3. Alessio Emanuele Biondo & Alessandro Pluchino & Andrea Rapisarda, 2012. "The beneficial role of random strategies in social and financial systems," Papers 1209.5881, arXiv.org, revised Jan 2013.
    4. Alessio Emanuele Biondo & Alessandro Pluchino & Andrea Rapisarda, 2014. "Micro and Macro Benefits of Random Investments in Financial Markets," Papers 1405.5805, arXiv.org.
    5. A. E. Biondo & A. Pluchino & A. Rapisarda & D. Helbing, 2013. "Are random trading strategies more successful than technical ones?," Papers 1303.4351, arXiv.org, revised Jul 2013.
    6. Pluchino, Alessandro & Garofalo, Cesare & Rapisarda, Andrea & Spagano, Salvatore & Caserta, Maurizio, 2011. "Accidental politicians: How randomly selected legislators can improve parliament efficiency," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(21), pages 3944-3954.
    7. Robert H. Frank, 2016. "Success and Luck: Good Fortune and the Myth of Meritocracy," Economics Books, Princeton University Press, edition 1, number 10663, December.
    8. Jurajda, Stepán & Münich, Daniel, 2010. "Admission to selective schools, alphabetically," Economics of Education Review, Elsevier, vol. 29(6), pages 1100-1109, December.
    9. Alessio Emanuele Biondo & Alessandro Pluchino & Andrea Rapisarda & Dirk Helbing, 2013. "Reducing Financial Avalanches By Random Investments," Papers 1309.3639, arXiv.org, revised Nov 2013.
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