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 paper provides evidence on how Keynes devised a mathematical framework for his system of probability, which he called «approximation», in A Treatise on Probability, 1921. Keynes used standard ...

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 ...

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 ...