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Treating probability as a logic, Thomas Bayes defined the following:
Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y)
For example, probability that the weather was bad given that our friends played cricket can be calculated as:
Pr(play cricket in the rain)Pr(rain)/Pr(play cricket).
I have an assignment in which I have to invent a new international trade theory. For me, the absolute advantage of Adam Smith is really good, and I want to find a solution if a cou
Two people are involved in a dispute. Person 1 does not know whether person 2 is strong or weak; she assigns probability to person 2 being strong. Person 2 is fully informed. Each
An auction during which many (more than one) things are offered for sale. Mechanisms for allocating multiple units embody discriminatory and uniform worth auctions.
What terms are included in the monopolistic competition? Product Differentiation: 1. The meaning of monopolistic competition and product differentiation 2. Why monopolist
A market mechanism during which an object, service, or set of objects is being purchased, instead of sold, to the auctioneer. The auction provides a selected set of rules which wil
the first three words are ''''the boys'' down''''. what are the last three words?
A strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating however defects to cheating for a predefined amount of your time as a respo
How did link die
why might an airline offer the following deal: you pay 400 for a round trip ticket from here to orlando, but you only pay 300 per ticket if you stayy in orlando includes a saturday
Rules of Snake Eyes (small variation on game called Craps in USA) Player rolls two dice. On the first roll if the total of the dice is 2 (snake eyes): player wins and rece
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