The continued existence of lotteries is a demonstration of how little intuition humans have for probability. On some level, ...

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 ...