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.

Possibility theory and conditional probability offer complementary perspectives for modelling uncertainty, with each framework contributing distinct advantages. Possibility theory, rooted in fuzzy set ...

Probability theory has long provided a rigorous framework for quantifying uncertainty, yet its extension to infinite sets introduces profound conceptual challenges and opportunities. Contemporary ...

This is a preview. Log in through your library . Abstract Von Mises defined a "physical" probability as a strict limit of the relative frequency of occurrence of an event in repeated trials. As a ...

Source: Thunder Bay, Canada. Used with permission of Dan Hunt, MD. Coincidences attract our attention because they seem weird, odd, or unlikely. Their improbability stimulates wonder—“what are the ...

Application of more rigorous engineering assessment methods, such as probability of exceedance, to in-line inspection data provides a more reliable procedure for pipeline integrity management than ...

Strong disagreements exist about how to position a retiree’s assets to best meet retirement goals. Two fundamentally different philosophies for retirement income planning—which I call ...

The discussion about the probability-based and safety-first schools of thought makes clear that retirement income planning is still a field in flux. The table below highlights this matter with a just ...