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 ...

Let τ be a prior distribution over the parameter space Θ for a given parametric model P θ, θ ∈ Θ. For the sample space X (over which P θ 's are probability measures) belonging to a general class of ...

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 ...