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 ...

Sample space, Field and Probability Measure. Axiomatic definition of Probability. Bayes' theorem. Repeated trials. Continuous and discrete random variables and their probability distribution and ...

A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . . For example, stock prices are discrete random variables, ...

The Review of Economics and Statistics, Vol. 96, No. 5 (December 2014), pp. 916-935 (20 pages) We propose a random coefficients nested logit (RCNL) model to compare the tractable nested logit (NL) ...

In a number of situations we are faced with the problem of determining efficient estimates of the mean and variance of a distribution specified by (i) a non-zero probability that the variable assumes ...