Rationality is usually defined in terms of expected utility maximization. This paper argues for defining it in terms of conditional expected utility maximization by showing this conception's superior ...

Probabilistic models, such as hidden Markov models or Bayesian networks, are commonly used to model biological data. Much of their popularity can be attributed to the existence of efficient and robust ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Michael Boyle is an experienced financial professional with more than 10 years working with ...

Let me give you an example of time maximization. Randy Boll, like most people, didn’t have enough time in the day to get it all done. Randy was already one of the top 10 producers at his firm, and he ...

Unless you are a philanthropist running a nonprofit organization, your main motivation for being in business is to generate a healthy income. How you reach that objective, however, will depend on many ...