The last decade has seen a revolution in global energy. First, we saw explosive growth in demand from Asia's rising powers, which fueled fears about scarcity and conflict. But we've also seen an American revolution in technology and markets, resulting in a dramatic increase in sup-ply. This is...

Over the last decade, researchers, practitioners, and regulators had intense debates about how to treat the data collection threshold in operational risk modeling. There are several approaches under consideration --- the empirical approach, the "naive'' approach, the shifted approach, and the...

The probabilistic behavior of the claim severity variable plays a fundamental role in calculation of deductibles, layers, loss elimination ratios, effects of inflation, and other quantities arising in insurance. Among several alternatives for modeling severity, the parametric approach continues...

In this paper, we establish several stochastic orders between Gini indexes of multivariate elliptical risks with the same marginals but different dependence structures. This work is motivated by the studies of Brazauskas et al (2007) and Samanthi et al (2015), who employed the Gini index to...

A nonparametric test based on nested L-statistics and designed to compare the riskiness of portfolios was introduced by Brazauskas, Jones, Puri, and Zitikis (2007). Its asymptotic and small-sample properties were primarily explored for independent portfolios, though independence is not a...