The modeling of wind speed is a traditional topic in meteorological researches where the main interest is on the short term forecast of wind speed intensity and direction. More recently this theme has received some interest in the quantitative finance literature for its relations with the...

Over the last two decades, default rates and market risk have increased substantially. A consequence of the growing global interlacing is a strong dependence between both individual stock returns and credit events. Risk management (especially risk diversification) is much more challenging,...

This paper examines the recent innovation of “prediction markets,” a new genre of financial markets, and how such markets can be utilized to assess, manage, and plan for risks of all types, including economic and financial risks. A comprehensive study of these markets concluded that...