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OverviewIn 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 DetailsAuthor: Van-Nam Huynh , Vladik Kreinovich , Songsak SriboonchittaPublisher: 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: 9783319033945ISBN 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 We will order this item for you from a manufactured on demand supplier. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |