Changes in load and distributed generation in low voltage distribution systems (LVDS) have made the individual consumer offtake highly uncertain for the system operator. In order to accurately determine hosting capacity of such systems, congestion related stochastic indices, e.g. probability of...

Many of the concepts in theoretical and empirical finance developed over the past decades – including the classical portfolio theory, the Black-Scholes-Merton option pricing model or the RiskMetrics variance-covariance approach to VaR – rest upon the assumption that asset returns follow a...

Recently, a body of academic literature has focused on the area of stable distributions and their application potential for improving our understanding of the risk of hedge funds. At the same time, research has sprung up that applies standard Bayesian methods to hedge fund evaluation. Little or...