Bayes' theorem is a formula for calculating the probability of an event. Learn how to calculate Bayes' theorem and see examples.

We prove that for a diffusion process the first-passage-time p.d.f. through a continuous-time function with bounded derivative satisfies a Volterra integral equation of the second kind whose kernel ...

Expected value is the anticipated value for an investment at some point in the future and is an important concept for investors seeking to balance risk with reward.

A simple and efficient numerical procedure for the solution of the integral equation is provided and its convergence is briefly discussed. Use of this equation is finally made to obtain closed-form ...