The entropy score of an observed outcome that has been given a probability forecast p is defined to be -log p. If p is derived from a probability model and there is a background model for which the ...

This is a preview. Log in through your library . Abstract A method is proposed for creating a smooth kernel density estimate from a sample of binned data. Simulations indicate that this method ...

I recently led a webinar on the laws of thermodynamics, which got me thinking: A business is very much a closed system, such as a universe. Therefore, if entropy is always increasing in a closed ...

Lucas Downey is the co-founder of MoneyFlows, and an Investopedia Academy instructor. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched ...