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.

The problem of finding confidence intervals for the success parameter of a binomial experiment has a long history, and a myriad of procedures have been developed. Most exploit the duality between ...

Survey sampling and estimation methods form the cornerstone of modern statistical inference, underpinning research across the social, medical, and natural sciences. At their heart, these methods ...

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 ...

In 2010 I helped a startup IPO by creating a custom Monte Carlo planning tool in C# that estimated the likelihood that their new small business product would ship on schedule. The output of this tool ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...