The Human Development Index, which is multidimensional by construction, is criticized on the ground that it is insensitive to any form of inequality across persons. Inequality in the multidimensional context can take two distinct forms. The first pertains to the spread of the distribution across...

In this paper we study the existence of arbitrage opportunities in a multi-asset market when risk-neutral marginal distributions of asset prices are known. We first propose an intuitive characterization of the absence of arbitrage opportunities in terms of copula functions. We then address the...

While the Generalized Error Distribution (GED) has been used quite extensively in time series applications and has demonstrated a sound flexibility in the estimation process, there is so far no attempt to use this function in the construction of Copulas. Copulas are probability functions that...

Western governments increasingly place more emphasis on non-income dimensions in measuring national well-being (e.g. the UK, France). Not only averages, but the characteristics of the whole distribution (e.g. inequalities) are taken into consideration. Commonly used data such as life...

Gartzke and Li (2003b) formulate a mathematical relationship between “trade share,†“trade dependence,†and “trade openness,†and use this to argue that the disparity between the findings in studies by Barbieri and those of Oneal and Russett and others can partly be...