Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets is a book by Nassim Nicholas Taleb that deals with the fallibility of human knowledge. It was first published in 2001. Updated editions were released a few years later. The book is the first part of Taleb's multi-volume philosophical essay on uncertainty, titled the Incerto, which also includes The Black Swan (2007–2010), The Bed of Procrustes (2010–2016), Antifragile (2012), and Skin in the Game (2018).

Thesis

Taleb sets forth the idea that modern humans are often unaware of the existence of randomness. They tend to explain random outcomes as non-random. Human beings: Other misperceptions of randomness that are discussed include:

Reaction

The book was selected by Fortune as one of the 75 "Smartest Books of All Time." U.S.A Today recounted that many criticisms raised in this book of the financial industry turned out to be justified. Forbes described the book as being playful, self-effacing and at times insufferably arrogant, but always thought provoking. The New Yorker (one of the publications which receives more favourable comments in this book) said that the book was to conventional Wall Street wisdom what Martin Luther’s ninety-nine [sic] theses were to the Catholic Church.

Editions