Probability theory constitutes the mathematical framework for quantifying uncertainty and analysing random phenomena. Its foundations lie in measure theory, where a probability space is defined as a ...

Copulas are functions that enable the construction of multivariate probability distributions by binding together univariate marginal distributions. Central to probability theory, they allow ...

“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP).

PROBABILITY theory is a quaint little piece of mathematics. It is about sets of non-negative numbers that are attached to actual and possible physical events, that sum to 1 and that obey certain rules ...

What makes a proof stronger than a guess? What does evidence look like in the realm of mathematical abstraction? Hear the mathematician Melanie Matchett Wood explain how probability helps to guide ...