Studies axioms, counting formulas, conditional probability, independence, random variables, continuous and discrete distribution, expectation, moment generating functions, law of large numbers, ...

Paolacci, Gabriele; André, Quentin. Probabilistic Outcomes Are Valued Less in Expectation, Even Conditional on Their Realization. Management Science. Nov2024, Vol. 70 Issue 11, p7524-7536. Most ...

This paper is concerned with finding the expected value of perfect information (EVPI) in a simple facility location problem where the weights, which summarize cost and volume parameters, are random ...

When evaluating the tail risk of stock portfolio returns, providing statistically sound solutions for long return horizons is important, but difficult. Furthermore, there are drawbacks to using ...

Risk management and capital allocation remain central to actuarial science, serving as vital tools in quantifying uncertainty and mitigating potential losses. The field has evolved from traditional ...