Rank association is a fundamental tool for expressing dependence in cases in which data are arranged in order. Measures of rank correlation have been accumulated in several contexts for more than a century and we were able to cite more than thirty of these coefficients, from simple ones to...

In a less widely known contribution, Béla Martos (1966, Hungarian Academy of Sciences) introduced a generalized notion of concavity that is closely related to what is nowadays known as r-concavity in the operations research literature, and that is identical to what is nowadays known as...

This course is a self-contained introduction to statistics with economic applications. Elements of probability theory, sampling theory, statistical estimation, regression analysis, and hypothesis testing. It uses elementary econometrics and other applications of statistical tools to economic...

There are many mathematics textbooks on real analysis, but they focus on topics not readily helpful for studying economic theory or they are inaccessible to most graduate students of economics. <i>Real Analysis with Economic Applications</i> aims to fill this gap by providing an ideal textbook and...

We define a standard optimization problem with quadratic objective function and provide a rigorous visual proof for its solution without using calculus. We then show that such standard problem is a building block for several economic models related to microeconomics, game theory and pricing...

In a less widely known contribution, Béla Martos (1966, Hungarian Academy of Sciences) introduced a generalized notion of concavity that is closely related to what is nowadays known as r-concavity in the operations research literature, and that is identical to what is nowadays known as...

We argue that the relationship between individual satisfaction with life (SWL) and SWL inequality is more complex than described by leading earlier research such as Goff, Helliwell, and Mayraz (Economic Inquiry, 2018). Using inequality indices appropriate for ordinal data, our analysis using the...

We review two complementary mixture-based clustering approaches for modeling unobserved heterogeneity in an insurance portfolio: the generalized linear mixed cluster-weighted model (CWM) and mixture-based clustering for an ordered stereotype model (OSM). The latter is for modeling of ordinal...

To compare distributions of ordinal data such as individuals' responses on Likert-type scale variables summarizing subjective well-being, we should not apply the toolbox of methods developed for cardinal variables such as income. Instead we should use an analogous toolbox which takes account of...

How to undertake distributional comparisons when personal well-being is measured using income is well-established. But what if personal well-being is measured using subjective well-being indicators such as life satisfaction or self-assessed health status? Has average well-being increased or...