Terms and Concepts Archives

Python Programming / Statistics / Terms and Concepts

Shakespeare’s Nightmare: Monkeys on Typewriters

Will infinite monkeys randomly pushing buttons on infinite typewriters create all of Shakespeare’s books? That is the question.

Law of Large Numbers - Old Adding Machine

Mathematics / Statistics / Terms and Concepts

The Law of Large Numbers

Law of Large Numbers (LLN) states that as the number of observations of an event increases, the observed probability approaches to the expected value.

Economics / Microeconomics / Terms and Concepts

Rational Preferences

An agent has rational preferences if her preferences fulfill two properties, that they are complete and that they are also transitive.

Economics / Economics and History / Terms and Concepts

Beggar Thy Neighbor Policy

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.

Category: Terms and Concepts

Shakespeare’s Nightmare: Monkeys on Typewriters

The Law of Large Numbers

Rational Preferences

Beggar Thy Neighbor Policy