“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP).

I am not a runner. And yet, somehow, on a recent rainy Saturday morning, I found myself literally chasing men around the marshy parkland in my East London neighborhood. They were all much faster than ...

Social protection and labor systems promote better employment, prevent income loss, and protect people facing shocks and transitions. These programs are not just about helping people get by, they help ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Gordon Scott has been an active investor and ...