Modeling Dependence in Econometrics

Author:   Van-Nam Huynh ,  Vladik Kreinovich ,  Songsak Sriboonchitta
Publisher:   Springer International Publishing AG
Edition:   2014 ed.
Volume:   251
ISBN:  

9783319033945


Pages:   575
Publication Date:   05 December 2013
Format:   Paperback
Availability:   Manufactured on demand   Availability explained
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Modeling Dependence in Econometrics


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Overview

In economics, many quantities are related to each other. Such economic relations are often much more complex than relations in science and engineering, where some quantities are independence and the relation between others can be well approximated by linear functions. As a result of this complexity, when we apply traditional statistical techniques - developed for science and engineering - to process economic data, the inadequate treatment of dependence leads to misleading models and erroneous predictions. Some economists even blamed such inadequate treatment of dependence for the 2008 financial crisis. To make economic models more adequate, we need more accurate techniques for describing dependence. Such techniques are currently being developed. This book contains description of state-of-the-art techniques for modeling dependence and economic applications of these techniques. Most of these research developments are centered around the notion of a copula - a general way of describing dependence in probability theory and statistics. To be even more adequate, many papers go beyond traditional copula techniques and take into account, e.g., the dynamical (changing) character of the dependence in economics.

Full Product Details

Author:   Van-Nam Huynh ,  Vladik Kreinovich ,  Songsak Sriboonchitta
Publisher:   Springer International Publishing AG
Imprint:   Springer International Publishing AG
Edition:   2014 ed.
Volume:   251
Dimensions:   Width: 15.50cm , Height: 3.10cm , Length: 23.50cm
Weight:   8.891kg
ISBN:  

9783319033945


ISBN 10:   3319033948
Pages:   575
Publication Date:   05 December 2013
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand   Availability explained
We will order this item for you from a manufactured on demand supplier.

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