Few debates in the social sciences are ostensibly more boring and pointless than those involving the definitions of words. If one group of people chooses to define a word one way, while another group ...

In my recent article on these pages entitled “On the Possibility of Assigning Probabilities to Singular Cases: Or, Probability is Subjective Too!” (Crovelli 2009) I argued that members of the Austrian ...

A probability distribution of a random variable describes how the probabilities are distributed over the possible values of the random variable. A probability distribution shows the likelihood of ...

What is meant by joint probability? Joint probability, in probability theory, refers to the probability of two events occurring together. The formula for estimating joint probability is as follows:- ...

What Are Risk-Neutral Probabilities? Risk-neutral probabilities are probabilities of potential future outcomes adjusted for risk, which are then used to compute expected asset values. In other words, ...