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 ...

Aldous and Shepp recently proved that the Erlang distribution of a given order is the least variable phase-type distribution of that order, in the sense of minimizing the coefficient of variation.

In Bhatt and Roy's minimal directed spanning tree construction for n random points in the unit square, all edges must be in a south-westerly direction and there must be a directed path from each ...