By Marat Ibragimov,Rustam Ibragimov,Johan Walden
This publication makes a speciality of common frameworks for modeling heavy-tailed distributions in economics, finance, econometrics, data, threat administration and coverage. A primary subject is that of (non-)robustness, i.e., the truth that the presence of heavy tails can both toughen or opposite the results of a couple of versions in those fields, reckoning on the measure of heavy-tailed ness. those effects inspire the advance and purposes of strong inference methods below heavy tails, heterogeneity and dependence in observations. a number of lately built strong inference ways are mentioned and illustrated, including applications.
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