Shipping freight rates are notoriously volatile and shipping investors are perceived to be risk-loving. This paper explores the stochastic properties of freight rates in the shipping industry and derives the analytical equations for their moments in downside and upside markets using a two-piece...

The relationship between risk and expected returns has been investigated extensively in the financial economics literature. Theoretical models generally predict a positive relation between the two. Nevertheless, the empirical findings so far have been inconclusive. Using a generalization of the...

The five-parameter generalized beta distribution and ten of its special cases are considered as models fore the size distribution of income. The models are fit to income data for 23 countries and various years - a total of 82 datasets. Of the models considered, the Weibull, Daagum and...