Discover how the Dutch Book Theorem reveals profit opportunities in betting and finance when probabilities are misjudged.

We consider a one-dimensional simple random walk surviving among a field of static soft obstacles: each time it meets an obstacle the walk is killed with probability 1 − e−β, where β is a positive and ...

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 ...

Several important multivariate probability inequalities can be formulated in terms of multivariate convolutions of the form ∫ $f_{1}(x)f_{2}(x-\theta )dx$, where ...

Nate Silver, baseball statistician turned political analyst, gained a lot of attention during the 2012 United States elections when he successfully predicted the outcome of the presidential vote in ...

For four decades, a quiet boundary in pure mathematics kept a powerful theorem locked inside the safe world of finite quantities. Now a new result known as Sebestyen’s theorem has pushed that boundary ...