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Related Definitions
Subjective Probability The possibility of something occurring solely from one person's perspective or opinion is referred to as Subjective Probability. It varies from individual to individual...
Compound Probability The possibility of two or additional incidents coinciding is referred to as Compound Probability. Independent occurrences happen when the result of one event...
Probationary period Probationary period refers waiting period of one to six months
Asset substitution problem Asset substitution problem arises when the stockholders substitute riskier assets for the firm's existing assets and expropriate value from
Probability In statistics, the likelihood that a given event will occur as compared with the likelihood of alternative events occurring is called probability. For example,
Probability sample Probability sample is a sample selected in such a way that each item or person in the population being studied has an equal likelihood of being included in the sample.
Principal-agent problem Principal-agent problem is a moral hazard problem that occurs when the managers in control (the agents) act in their own interest rather
Free-rider problem Free-rider problem is the problem that occurs when people who do not pay for information take advantage of the information that other people have paid for.
Probability of damage Probability of damage refers to the probability that damage will occur to a target expressed as a percentage or as a decimal. Also called PD.
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