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Kelly criterion - Economics
In both investing and gambling one formula rises above the rest for optimising long-term wealth growth: the Kelly Criterion.
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Recursion - Logic
Recursion is about defining a problem in terms of itself, breaking it down into smaller, more manageable pieces, and then combining the results to solve the original problem.
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Bayes' theorem - Mathematics
Bayes' theorem, named after Thomas Bayes, is a fundamental principle in probability theory that provides a mathematical framework for updating beliefs based on new evidence.
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Distributions - Mathematics
In statistics and data analysis, distributions vary widely in their characteristics and significance.