“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP).

Conditional cash transfer programs have spread to over 60 countries in the past two decades, but little is known about their long-term effects. We estimate the lasting impact of childhood exposure to ...

By operating in the gray zone, states preserve escalation optionality, avoid reputation-locking commitments, and retain the ability to shift posture without incurring sudden political or strategic ...

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Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

Forbes contributors publish independent expert analyses and insights. Writes about the future of finance and technology, follow for more. Joint probability teaches us to calculate combined outcomes.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Are you stuck with workplace problems that you can't solve? Make your problem front and center. When you say that you're "a firefighter," you don't mean the firefighter who runs into buildings with ...

When is it appropriate to completely reinvent the wheel? To an outsider, that seems to happen a lot in category theory, and probability theory isn’t spared from this treatment. We’ve had a useful ...