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In this note we wish to pass along an example that we have found useful when introducing the concepts of conditional probability and Bayes' Rule to undergraduate students. The advantages of this ...

The probability that a tennis player wins the first set of a match is \(\frac{3}{5}\). If she wins the first set, the probability that she wins the second set is \(\frac{9}{10}\). If she loses the ...

We adapt the expectation-maximization algorithm to incorporate unobserved heterogeneity into conditional choice probability (CCP) estimators of dynamic discrete choice problems. The unobserved ...