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

Learn to apply Bayes' theorem in financial forecasting for insightful, updated predictions. Enhance decision-making with ...

“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 ...

Learn how baccarat odds of winning are shaped by fixed rules, house edge math and Banker commissions, with real probabilities ...

Learn how the different types of poker games differ across formats, rules, and risk profiles, with data-driven insights into popular and niche poker variants shaping play.

Individual aseismic areas move as rigid plates on the surface of a sphere. Application of the Mercator projection to slip vectors shows that the paving stone theory of world tectonics is correct and ...

Financial markets are already betting that the Federal Reserve will be easing policy again in 2026, but the people who ...

Learn how to trade Super Bowl LX at prediction markets. We explore the legal status of event contracts, account compliance, ...

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 ...

Tendai Ruben Mbofana The recent disputed elections in Uganda have once again forced an uncomfortable question onto the ...