Inside probability theory, conditional probability is a way to calculate and measure the probability of some event happening if another event has already occurred. The Bayes’ Theorem is one way of ...

We live in a world where a lot of things seem to happen by pure chance, from winning the Lotto to losing your car keys. But the truth is, the likelihood of many everyday things happening is heavily ...

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 ...

This paper concerns the use of empirical Bayes methods to improve the efficiency of a parameter of interest, θ, in the presence of many nuisance parameters, {φi}, one from each data stratum. A class ...