In this post, I explain how a newly introduced bias—likelihood neglect bias—can prevent us from forming accurate judgments ...

A team of researchers at the University Medical Center Schleswig-Holstein (UKSH), Kiel Campus, the Kiel University, and the ...

To address this limitation, the researchers applied a mathematical approach from probability theory known as Bayes' theorem. "By using this method, we trained a machine learning model that, in ...

A NerdWallet survey, conducted online by The Harris Poll in October 2024, found that just 23% of Americans had evaluated ...

Linear multiplicative models are popular tools for analyzing data with positive responses. However, the linear structure of ...

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 ...