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

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

For four decades, a quiet boundary in pure mathematics kept a powerful theorem locked inside the safe world of finite quantities. Now a new result known as Sebestyen’s theorem has pushed that boundary ...

Pythagoras Theorem: The Pythagoras Theorem is a fundamental principle in geometry, attributed to the ancient Greek mathematician Pythagoras. This theorem establishes a relationship between the sides ...

The Central Limit Theorem is a statistical concept applied to large data distributions. It says that as you randomly sample data from a distribution, the means and standard deviations of the samples ...

Reviewed by Robert C. KellyFact checked by Yarilet PerezReviewed by Robert C. KellyFact checked by Yarilet Perez Arrow's impossibility theorem is a social-choice paradox illustrating the flaws of ...

The textbook uses examples from Indian monuments and cultural contexts to explain key concepts of the subject, including ...

We take for granted that an event in one part of the world cannot instantly affect what happens far away. This principle, which physicists call locality, was long regarded as a bedrock assumption ...