We provide a generic Monte Carlo method to find the alternative of maximum expected utility in a decision analysis. We define an artificial distribution on the product space of alternatives and states ...

We present a stochastic simulation model for estimating forward-looking corporate probability of default and loss given default. We formulate the model in a discrete time frame, apply ...

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 ...

Discover the secrets to generating random numbers in Python using the NumPy library. Unleash the full potential of your code ...

This course is compulsory on the BSc in Actuarial Science and BSc in Financial Mathematics and Statistics. This course is available on the BSc in Business Mathematics and Statistics, BSc in ...

It is not often that a comedian gives an astrophysicist goose bumps when discussing the laws of physics. But comic Chuck Nice managed to do just that in a recent episode of the podcast StarTalk. The ...

There’s a new creation story going around. In the beginning, someone booted up a computer. Everything we see around us reflects states of that computer. We are artificial intelligences living in an ...