The personalistic theory of probability prescribes that personal probability assessments to be used in decision-making situations should correspond with the assessor's judgments. A payoff function ...

Ever since Austrian scientist Erwin Schrodinger put his unfortunate cat in a box, his fellow physicists have been using something called quantum theory to explain and understand the nature of waves ...

The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and applications of statistics and probability. The Institute was formed at a ...

Computer scientists in California have built a mathematical theory of surprise, working from first principles of probability theory applied to a digital environment, according to this news release ...

Probability has a popular meaning that is not the same as the mathematical meaning. As a small-business owner, you may act on hunches, guesses and instincts. After such actions, you might even say you ...