Thomas Bayes, 1702-1761, was an English mathematician and reverend at the Presbyterian church. Nevertheless, his mathematical theorems on subjective probability have been very valuable and have had a great repercussion in science, economics and law.
He developed the Bayes’ theorem which is based on finding out the probability of a certain event “A” occurring, subject to the occurrence of a certain event “B”. In his post-mortem published “Essay Towards Solving a Problem in the Doctrine of Chances”, 1763, he reviews his theorems and presents the solution to an “inverse probability”. His mathematical theorems are greatly used in game theory and static and dynamic game analysis when complete information is available.
