Probability theory forms the mathematical backbone for quantifying uncertainty and random events, providing a rigorous language with which to describe both everyday phenomena and complex scientific ...

The outrage of the moment in my social media circles is over the New York Times hiring Bret Stephens as an opinion columnist, who promptly devoted his first regular column to sowing doubt about ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

To many, the concept of probability feels intuitive. We're used to thinking about the odds of everything from coin flips to election results. Probability has become so integral to everyday life, it's ...

“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 ...

This is a preview. Log in through your library . Abstract Consider a class of nonstationary time series with the form Yt = μt + ξt where {ξt} is a sequence of infinite moving averages of independent ...

Probability theory constitutes the mathematical framework for quantifying uncertainty and analysing random phenomena. Its foundations lie in measure theory, where a probability space is defined as a ...

This is a preview. Log in through your library . Publisher Information The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and ...