Probability Theory

Asymptotic Distribution
A distribution used to approximate the true finite sample distribution of a random variable.
Bayes Theorem
A foundational relationship in probability theory that connects conditional probabilities with marginal probabilities.
Brownian Motion
An examination of Brownian motion, its definition, historical context, and significance in various fields of economics.
Continuous Random Variable
A comprehensive overview of continuous random variables, their essential components, and their application within various economic frameworks.
Convergence in Distribution
A detailed examination of the concept of convergence in distribution within economics and probability theory
Exponential Distribution
A comprehensive overview of the exponential distribution, its properties, and applications in economics
Law of Large Numbers
A statistical theorem stating that as the number of trials increases, the sample average will converge to the expected mean.
Location-Scale Family of Distributions
Definition and meaning of the location-scale family of distributions, exploring its foundational concepts and applications in various economic frameworks.
Martingale
A stochastic process where the expected future value of a variable, given the current information, is equal to its current value.