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 problem of finding confidence intervals for the success parameter of a binomial experiment has a long history, and a myriad of procedures have been developed. Most exploit the duality between ...

Survey sampling and estimation methods form the cornerstone of modern statistical inference, underpinning research across the social, medical, and natural sciences. At their heart, these methods ...

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 ...

Probability Distribution Notes: Probability is a fundamental aspect of mathematics that helps us understand and quantify uncertainty. Mastery of this subject is essential for students, as it has ...

The discussion about the probability-based and safety-first schools of thought makes clear that retirement income planning is still a field in flux. The table below highlights this matter with a just ...

Strong disagreements exist about how to position a retiree’s assets to best meet retirement goals. Two fundamentally different philosophies for retirement income planning—which I call ...

In 2010 I helped a startup IPO by creating a custom Monte Carlo planning tool in C# that estimated the likelihood that their new small business product would ship on schedule. The output of this tool ...

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 ...