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.

Probability underpins AI, cryptography and statistics. However, as the philosopher Bertrand Russell said, “Probability is the most important concept in modern science, especially as nobody has the ...

What happened when a gambler asked for help from a mathematician? The formal study of Probability. Infinite Series is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV ...

The classical approach to probability theory requires that estimates for probability distributions be based on empirical data. However, in many practical cases, the available data may not be available ...