Chance theory is a mathematical methodology for dealing with indeterminatephenomena including uncertainty and randomness.Consequently, uncertain random variable is developed to describe the phenomena which involveuncertainty and randomness.Thus, uncertain random variable is a fundamental concept in chance theory.This paper provides some practical quantities to describe uncertain random variable...

We study the second-price offer feature of eBay auctions in which the seller has multiple units. Perhaps surprisingly, the opportunity to make second-chance offers can reduce seller profit. This happens if her marginal cost function is sufficiently steep. Hence, sellers should be wary about the possibility that buyers anticipate second-chance offers, and it may be advantageous for a seller to a...

When philosophers of physics explore the nature of chance, they usually look to quantum mechanics. When philosophers of biology explore the nature of chance, they usually look to microevolutionary phenomena such as mutation or random drift. What has been largely overlooked is the role of chance in macroevolution. The stochastic models of paleobiology employ conceptions of chance that are simila...

Memory and chance are two properties or, more evocatively, two strategies that cells have evolved. Cellular memory is beneficial for broadly the same reasons that memory is beneficial to humans. How well could we function if we forgot the contents of the refrigerator every time the door was closed, or forgot where the children were, or who our spouse was? The inability to form new memories, cal...

Chess and chance are seemingly strange bedfellows. Luck and/or randomness have no apparent role in move selection when the game is played at the highest levels. However, when competition is at the ultimate level, that of the World Chess Championship (WCC), chess and conspiracy are not strange bedfellows, there being a long and colorful history of accusations levied between participants. One suc...

This paper deals with the problem of how to control the movement of a simple robot which has the goal to reach a specified target within finite time and to stay within some pre-defined distance to it. The system's design proposed is as minimal as possible and reflects the basal reflex arc as observed in biological systems. The dynamics is due to a multiplicatively modified random walk. In parti...

The previous chapters of this book have presented rheostasis in terms of the phenomena observed rather than in terms of underlying mechanisms. They have described changes in regulated level and said that there has been a change in set-point when it appears "as if" such a change had taken place. Taking this approach, one may find enough examples of rheostasis to become convinced that the body is...

Statistical literacy studies statistics used as evidence in everyday arguments. This paper studies those aspects of chance that seem most relevant to statistical literacy. Web prevalences of chance-related terms are used to select chance topics relevant to statistical literacy such as ‘better than chance’, ‘due to chance’, chance in evolution, the Law of Very Large Numbers, Trojan numbers, info...