Advances in flexible models and efficient statistical procedures for heavy-tailed and asymmetric data Vlerick Business School
Probability distributions are at the core of statistical modeling. Most often we donot know the data-generating mechanism for the data at hand. It is then important to know which distribution can or cannot be used in what circumstances, aswrong choices will bias further analysis. A famous example of such a situation isthe 2008 financial crisis, where financial institutions used the multivariate Gaussiandistribution for modelling the behaviour of ...