This article is concerned with showing that the dependence of probable success between two reservoirs has far-reaching consequences for the expected value, volatility, and cumulative probability of ...

Journal of Applied Probability, Vol. 48, No. 4 (DECEMBER 2011), pp. 1035-1048 (14 pages) Consider a discrete-time insurance risk model. Within period i, the net insurance loss is denoted by a ...

This is a preview. Log in through your library . Abstract This paper considers functional dependence from a general standpoint. Some basic ideas are explored and the extent of functional dependence ...

This paper introduces a credit portfolio framework that allows for dependencies between default probabilities, secured and unsecured recovery rates and exposures at default (EADs). The overall ...

Copulas are functions that enable the construction of multivariate probability distributions by binding together univariate marginal distributions. Central to probability theory, they allow ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...

Probability is a measure of the likelihood of events happening. The greater the proportion of times an event can happen the greater (or more likely) the probability. Events can be ordered by the ...

The point about this situation is that Pc can have any value in between 50%>Pc>0%. When one assigns any value whatsoever to Pc in the allowed range then the expected ...