Scott examines the likelihood and potential severity of an H5N1 bird flu pandemic, analyzing prediction markets and historical data to estimate a 5% chance of pandemic in the next year with most likely moderate severity. Longer summary

Scott Alexander provides a comprehensive overview of H5N1 bird flu and its pandemic potential. He starts by explaining what flu is and its history of pandemics, then focuses on H5N1's current situation, analyzing prediction market estimates for its chances of causing a pandemic. The post examines different mortality scenarios and their likelihood, using data from past flu pandemics and current cases. It concludes with specific predictions about H5N1's future impact, suggesting a 5% chance of human pandemic in the next year, with varying degrees of severity if it occurs. Shorter summary