Empirical Bayes is a versatile approach to “learn from a lot” in two ways: first, from a large number of variables and, second, from a potentially large amount of prior information, for example, ...

Discover how credibility theory helps actuaries use historical data to estimate risks and set insurance premiums; learn how ...

A recent study introduces a groundbreaking method for early crop identification, leveraging the Bayesian Probability Update Model (BPUM). This innovative approach combines historical planting data ...

It’s estimated that human adults make about 35,000 decisions a day — the percentage of good decisions depends on the adult. These choices can be as banal as deciding to roll or crumple toilet paper or ...

We prove a theorem justifying the regularity conditions which are needed for Path Sampling in Factor Models. We then show that the remaining ingredient, namely, MCMC for calculating the integrand at ...

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 ...