We develop an alternative approach to the general equilibrium analysis of a stochastic production economy when firms' choices of investment influence the probability distributions of their output.

Possibility theory and conditional probability offer complementary perspectives for modelling uncertainty, with each framework contributing distinct advantages. Possibility theory, rooted in fuzzy set ...

To truly operate with an edge, you must have some way of discovering structural arbitrage — finding the variance between the ...

Probability theory has long provided a rigorous framework for quantifying uncertainty, yet its extension to infinite sets introduces profound conceptual challenges and opportunities. Contemporary ...

This is a preview. Log in through your library . Abstract Von Mises defined a "physical" probability as a strict limit of the relative frequency of occurrence of an event in repeated trials. As a ...

Source: Thunder Bay, Canada. Used with permission of Dan Hunt, MD. Coincidences attract our attention because they seem weird, odd, or unlikely. Their improbability stimulates wonder—“what are the ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Strong disagreements exist about how to position a retiree’s assets to best meet retirement goals. Two fundamentally different philosophies for retirement income planning—which I call ...

Application of more rigorous engineering assessment methods, such as probability of exceedance, to in-line inspection data provides a more reliable procedure for pipeline integrity management than ...