Probability is a measure of how likely an event is to occur within a specific range of possible outcomes. While it is often associated with gambling, probability theory plays a vital role in various ...

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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J Catalano is a CFP and Registered ...

Delay discounting and probability discounting are two important processes, but in daily life there are many more situations that involve delayed risky outcomes. Although neuroscience research has ...