This new edition includes the latest advances and developments in computational probability involving A Probability Programming Language (APPL). The book examines and presents, in a systematic manner, computational probability methods that encompass data structures and algorithms. The developed...

Rogers & Shi (1995) have used the technique of conditional expectations to derive approximations for the distribution of a sum of lognormals. In this paper we extend their results to more general sums of random variables. In particular we study sums of functions of dependent random variables...

I consider a situation, where the agent can acquire payoff-relevant information either before or after the contract is signed. To raise efficiency, the principal might solicit information; to retain all surplus, however, she must prevent precontractual information gathering. The following class...

In Bayesian nonparametric inference, random discrete probability measures are commonly used as priors within hierarchical mixture models for density estimation and for inference on the clustering of the data. Recently it has been shown that they can also be exploited in species sampling...