“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP). It states that if prospect x is preferred to y knowing that Event A ...

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Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

Abstract: In recent years, spatiotemporal data has played a crucial role in weather, transportation, and disease transmission within the context of the Internet of Things (IoT). However, due to cost ...

Forbes contributors publish independent expert analyses and insights. Writes about the future of finance and technology, follow for more. Joint probability teaches us to calculate combined outcomes.

Two high school graduates who say they can't read or write are suing their respective public school systems, arguing they were not given the free public education to which they are entitled. Cornell ...

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 ...

When is it appropriate to completely reinvent the wheel? To an outsider, that seems to happen a lot in category theory, and probability theory isn’t spared from this treatment. We’ve had a useful ...