The basic problem of a theory of truth approximation is defining when a theory is “close to the truth” about some relevant domain. Existing accounts of truthlikeness or verisimilitude address this ...

Probabilistic programming languages (PPLs) have emerged as a transformative tool for expressing complex statistical models and automating inference procedures. By integrating probability theory into ...

The design and construction of capital projects can be extremely complex. Uncertainty and risk add to this complexity and, as a result, many projects experience significant cost overruns and schedule ...

Consider an N × n random matrix $Y_{n}=(Y_{ij}^{n})$ where the entries are given by $Y_{ij}^{n}={\textstyle\frac{\sigma _{ij}(n)}{\sqrt{n}}}X_{ij}^{n}$, the $X_{ij ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The American Association of Petroleum Geologists president promotes wider reliance than exists now on probabilistic methods of estimating oil and gas reserves. Oil and gas reserves calculations can be ...

Probabilistic Safety Assessments (PSA), which was introduced in the 1970s as complement to deterministic safety analysis methods, is a well-established tool that supports design and safety assessment ...