Probability is a measure of the likelihood of events happening. The greater the proportion of times an event can happen the greater (or more likely) the probability. Events can be ordered by the ...

Welcome to my new blog here on Forbes.com. Over the new few months I’m going to be talking about a couple of quite disparate but fascinating areas: book publishing and high-impact low-probability ...

Andy Pitman receives funding from the Australian Research Council. Anna Ukkola receives funding from the Australian Research Council. Seth Westra receives funding from the Australian Research Council ...

We’ve seen a number of outlier events in 2016, but the experts predicted them poorly and are labeling them “black swans.” According to Nassim Taleb, black swan events are highly unexpected for a given ...

Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.