“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP). It states that if prospect x is preferred to y knowing that Event A ...

Learn to apply Bayes' theorem in financial forecasting for insightful, updated predictions. Enhance decision-making with ...

If you’re a new bettor, you will be reading all kinds of terms that you may not recognise. It’s a tough journey at the best of times, but learning how to bet effectively can be suffocating for the ...

When you see betting odds like +200 or -120, the first thing you think of is potential payouts, but there’s more. Those odds reflect a hidden percentage and the bookmaker’s estimate of how likely that ...

where $l$ and $u$ are the lower and upper probability bounds, while $\phi$ and $\psi$ denote propositional logic formulas. For example the following two sentences ...

Profit Formula: Doing business is no easy task. From negotiating the right price to selling a product at the best possible value, every step is aimed at maximizing profit. Whether you are a seller or ...

In the world of professional sports, winning is everything. But Formula E, which hosted the second Tokyo E-Prix this weekend at Tokyo Big Sight, is a notable exception. Founded with a mission of ...

Purchasing power refers to the amount of goods and services a person or entity can buy with a given amount of money. It fluctuates over time due to inflation, deflation and changes in income, directly ...