The word 'probability' in ordinary language has two different senses, here called "inductive" and "physical" probability. This paper examines the concept of inductive probability. Attempts to express ...

Chernoff [1] has called attention to a paper of Mann and Wald [5], which provides a general theory and a convenient notation for the derivation of theorems concerning stochastic limits and limit ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. One takeaway is that JPMorgan isn’t paying much for graphic design. Another is that it’s paying too much, ...

THE concept of probability has always comprised two ideas: that of frequency in an ensemble and that of reasonable expectation. Suppose it is said that in tossing an unbiased coin the probabilities of ...

To many, the concept of probability feels intuitive. We're used to thinking about the odds of everything from coin flips to election results. Probability has become so integral to everyday life, it's ...