Mathematicians rely on numbers, but finding words to explain different levels of certainty has stymied everyone from the ...

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

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

Abstract: In the past decade, influence maximization becomes one of the fundamental problems in online social networks. It has popular applications such as viral marketing and rumor blocking. This ...

Abstract: This article presents a problem on model uncertainties in stochastic control, in which an agent assumes a best case scenario on one risk and at the same time a worst case scenario on another ...