Possibility theory and conditional probability offer complementary perspectives for modelling uncertainty, with each framework contributing distinct advantages. Possibility theory, rooted in fuzzy set ...

Discover how the Dutch Book Theorem reveals profit opportunities in betting and finance when probabilities are misjudged.

Probability theory has long provided a rigorous framework for quantifying uncertainty, yet its extension to infinite sets introduces profound conceptual challenges and opportunities. Contemporary ...

The problem of finding confidence intervals for the success parameter of a binomial experiment has a long history, and a myriad of procedures have been developed. Most exploit the duality between ...

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 ...