Originally applied to gambling, today it is extremely important in economics, especially in actuarial science. John Ross writes, "Probability theory and the discoveries following it changed the way we regard uncertainty, risk, decision-making, and an individual's and society's ability to influence the course of future events."
Initially used for gambling, probability theory has become essential in economics, especially in actuarial science. John Ross emphasizes that "Probability theory and its subsequent discoveries have revolutionized our perception of uncertainty, risk, decision-making, and the ability of individuals and societies to influence future events."