Whilst ideally decisions should be made on a basis of rational thinking and logic, many in practice are made for irrational, unexplainable reasons, particularly where information is incomplete, time is limited or when the outcomes of a decision lead to uncertainty whatever course of action is...

When information is needed about the characteristics of a “population”, statistical sampling can save time, money and effort. Although some loss of accuracy is inevitable when dealing with samples, the error can be calculated and controlled provided the sample is carefully selected so that...

This article describes a study of the risks, returns and correlations among international stock market averages, from the point of view of both the US and UK investor during the period 1970 to 1977. The data have been analysed in two ways. First they are treated as observations from a stochastic...