Statistical discrimination is our tendency to believe something about a group of people based on a perceived group average. These beliefs don't necessarily have to come from a prejudiced point of view ...

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 ...

Statistical models predict stock trends using historical data and mathematical equations. Common statistical models include regression, time series, and risk assessment tools. Effective use depends on ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...

The scientific world is abuzz following recommendations by two of the most prestigious scholarly journals – The American Statistician and Nature – that the term “statistical significance” be retired.

The probabilistic revolution first kicked off in the 1600s, when gamblers realized that estimating the likelihood of an event could give them an edge in games of chance. However, as an educator of ...

The data genie is well and truly out of the bottle. The presence of data-driven consultancies, the rise of public data websites and the growth of its use in the media (cough, cough) highlight how ...

It may well have been that famous remark by the British statesman Benjamin Disraeli, "There are three kinds of lies—lies, damned lies, and statistics," that inspired Darrell Huff to write How to Lie ...

Marshall Hargrave is a stock analyst and writer with 10+ years of experience covering stocks and markets, as well as analyzing and valuing companies. Thomas J. Brock is a CFA and CPA with more than 20 ...