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

“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP).

French mathematician and astronomer, Pierre-Simon Laplace brought forth the first major treatise on probability that combined calculus and probability theory in 1812. A single roll of the dice can be ...

What happened when a gambler asked for help from a mathematician? The formal study of Probability. Infinite Series is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV ...

Should defendants be convicted based on merely statistical evidence? To what extent are individuals responsible for group harms? Can voting in a non-swing state be justified? Are cosmological theories ...

PROBABILITY theory is a quaint little piece of mathematics. It is about sets of non-negative numbers that are attached to actual and possible physical events, that sum to 1 and that obey certain rules ...

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 ...

What makes a proof stronger than a guess? What does evidence look like in the realm of mathematical abstraction? Hear the mathematician Melanie Matchett Wood explain how probability helps to guide ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...