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 ...
It’s estimated that human adults make about 35,000 decisions a day — the percentage of good decisions depends on the adult. These choices can be as banal as deciding to roll or crumple toilet paper or ...
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 ...
We live in a world where a lot of things seem to happen by pure chance, from winning the Lotto to losing your car keys. But the truth is, the likelihood of many everyday things happening is heavily ...
Quantum versions of Bayes’ rule have been around for decades, but the approach through the minimum change principle had not ...
Virtually all computations performed by the nervous system are subject to uncertainty and taking this into account is critical for making inferences about the outside world. For instance, imagine ...
Chris Wiggins, an associate professor of applied mathematics at Columbia University, offers this explanation. A patient goes to see a doctor. The doctor performs a test with 99 percent ...
Journal of the Royal Statistical Society. Series C (Applied Statistics), Vol. 61, No. 2 (MARCH 2012), pp. 219-235 (17 pages) We propose a randomized phase II clinical trial design based on Bayesian ...
Having a strong opinion about an issue can make it hard to take in new information about it, or to consider other options when they’re presented. Thankfully, there’s an old rule that can help us avoid ...
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