Randall Morck of the Alberta School of Business says economists too often regard people as "dynamic, stochastic optimization ...

Islanders' Anthony Duclair scores stunning probability-defying hat trick against Devils originally appeared on The Sporting ...

The answer lies in a simple but powerful mathematical idea called “the house edge”: a small, systematic statistical advantage ...

A maths expert revealed the secret behind his incredible feat of winning the lottery 14 times. The 91-year-old used mathematical probability and carefully devised tactics to repeatedly secure top ...

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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 ...

In 1929, a few years prior to his colleague Kolmogorov's Grundbegriffe, the leading Russian probabilist Khinchin published a paper in which he commented on the foundational ambitions of von Mises' ...

Whether you’re a novice bettor or a seasoned veteran, you’ve almost certainly heard of positive expected value betting. After all, there are betting influencers and podcast hosts who talk about the ...