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.

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This is a preview. Log in through your library . Abstract Von Mises defined a "physical" probability as a strict limit of the relative frequency of occurrence of an event in repeated trials. As a ...

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 ...

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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 ...