Skew‐normal distributions extend the traditional normal model by incorporating a parameter that accounts for asymmetry, thereby providing a more flexible framework for modelling real‐world data.
Most of us remember the frustration of trying to complete a collection of cards or stamps — you can never find the last one. In probability theory, this is known as the coupon collector's problem: ...
In this paper the multivariate skew normal distribution, introduced by Azzalini and Dalla Valle (1996), is used as a basis in density expansions. A short summary of main properties of the distribution ...
Discover how tail risk impacts portfolios, why rare financial events matter, and strategies for safeguarding investments against significant, unexpected losses.
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