There is an intriguing counterperformative aspect to this use of Levy distributions. [definitional]
There is an intriguing counterperformative aspect to this use of Levy distributions. They are, as noted in chapter 4, a form of "wild randomness." Tim Hinkes, their key Chicago proponent, believes however that by assuming wild randomness one reduces the impact, and possibly even the likelihood, of disastrous manifestations of such randomness: "we want to set [a] relatively high bar [margin requirements] and relatively consistent bar for all our firms" (Hinkes interview 1).
Donald MacKenzie, An Engine, Not a Camera, loc. 939