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 ...
Learn how prior probability informs economic theory and decision-making in Bayesian statistics. Understand its role before collecting new data.
Decision-making inherently involves cause–effect relationships that introduce causal challenges. We argue that reliable algorithms for decision-making need to build upon causal reasoning. Addressing ...