In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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

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 ...