Shakespeare’s Nightmare: Monkeys on Typewriters Posted on Will infinite monkeys randomly pushing buttons on infinite typewriters create all of Shakespeare’s books? That is the question.
The Law of Large Numbers Posted on Law of Large Numbers (LLN) states that as the number of observations of an event increases, the observed probability approaches to the expected value.
Rational Preferences Posted on An agent has rational preferences if her preferences fulfill two properties, that they are complete and that they are also transitive.
Beggar Thy Neighbor Policy Posted on Beggar thy neighbor policy is an economic policy which aims to boost the economy of a country, while worsening the economic conditions for another country.
Autarky Posted on Autarky refers to the state where the country has no trade with any other country. It is a closed economy.
