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.

The post How To Speed Up the Search for Cures Through a Change in Probability Theory appeared first on Reason.com.

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

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 ...

Bayes' theorem is a statistical formula used to calculate conditional probability. Learn how it works, how to calculate it ...

This paper provides evidence on how Keynes devised a mathematical framework for his system of probability, which he called «approximation», in A Treatise on Probability, 1921. Keynes used standard ...

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 ...