Bayes' theorem, also called Bayes' rule or Bayesian theorem, is a mathematical formula used to determine the conditional probability of events. The theorem uses the power of statistics and probability ...

Alice and Bob are playing a game in which the first person to get 6 points wins. The way each point is decided is a little strange. The Casino has a pool table that Alice and Bob can't see. Before the ...

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 ...

This article was published in Scientific American’s former blog network and reflects the views of the author, not necessarily those of Scientific American I’m not sure when I first heard of Bayes’ ...

Having a strong opinion about an issue can make it hard to take in new information about it, or to consider other options when they’re presented. Thankfully, there’s an old rule that can help us avoid ...