Abstract

Luck is at issue when it is a matter of pure chance that a result of significant positive of negative value ensues for someone. Luck differs from fate, which pivots on an individual's condition, and from fortune, which pivots on an individual's talent and effort. It is by luck that you are rich when you win the lottery, by fortune if your wealth comes from talent and hard work, and by fate if you inherit those millions. On this basis luck lies beyond anyone's rational control. With risk (R) as the probability of failure in a chancy situation and the stake (S) as the difference between a favorable and an unfavorable outcome, luck (L) can be measured as the product of these quantities: L = R × S. Lhe condition of humankind in an uncertain world being as it is, luck cannot be eliminated as a key factor of our existence, be it in cognitive, practical, or ethical regards.