# Dragon King (DK) Dragon King (DK) is a double metaphor for an event that is both extremely large in size or impact (a "king") and born of unique origins (a "dragon") relative to other events from the same system. DK events are generated by or correspond to mechanisms such as positive feedback, tipping points, bifurcations and phase transitions that tend to occur in nonlinear and complex systems and serve to amplify DK events to extreme levels. By understanding and monitoring these dynamics, some predictability of such events may be obtained This theory was developed by Didier Sornette who argues that many crises are in fact DKs rather than Black swans (i.e., they may be predictable to some degree). See [[Black swan]]. Those extremes may reveal often hidden organizing principles This theory is related to the black swan theory, outliers, complex systems, nonlinear dynamics, power laws (having a [[Pareto distribution]]), extreme value theory, prediction, extreme risks and risk management [[Nassim Nicholas Taleb]] has called DKs grey swans.