With both location and shape of stimuli varied simultaneously on independent binary probability schedules, the prediction distributions of subjects who had a 70%-30% schedule on each dimension ...

Learning abstract concepts like probability can often be challenging without practical examples. For many, it becomes easier to grasp when these ideas are connected to real-life experiences or ...

Thirty fourth-grade and 30 kindergarten children were presented with a 75%-25% probability learning task. Marbles were given for correct responses and were removed for incorrect responses. The ...

People love sports for being unpredictable, but that doesn’t mean sports are actually unpredictable. It just means they feel that way. And no one knows this better than Bobby Skoff because Bobby Skoff ...

Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.

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 ...