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

"All the way back, it dated to the Monroe Doctrine. And the Monroe Doctrine is a big deal, but we've superseded it by a lot, by a real lot. They now call it the 'Donroe Doctrine'." This remark ...

Humans respond to environments that change at many different speeds. A video game player, for example, reacts to on-screen ...

Scientists have uncovered a new explanation for how swimming bacteria change direction, providing fresh insight into one of ...

Poker is a game of skill, intuition, and mathematics. Whether you’re playing for pennies at a home game or a high-stakes tournament, understanding poker hand odds and probabilities can make the ...

Explore the binomial tree model's use in option pricing, its workings, and examples. Learn how this model estimates intrinsic ...

Pupil dilation provides a physiological readout of information gain during the brain's internal process of belief updating in the context of associative learning.