Humans are known to accumulate knowledge over time, which in turn allows them to continuously improve their abilities and ...

How can we improve the prediction of systemic risks in financial and economic crises? A new research project is developing innovative Bayesian ...

This paper examines the relationship between Knightian uncertainty and Bayesian approaches to entrepreneurship. Using Bewley's formal model of uncertainty and incomplete preferences, it demonstrates ...

Bayes' Theorem, named after 18th-century British mathematician Thomas Bayes, is a mathematical formula for determining conditional probability. Conditional probability is the likelihood of an ...