In this paper, we study transmission of traits through generations in multifactorial inheritance models with sex- and time-dependent heritability. We further analyze the implications of these models under heavy-tailedness of traits' distributions. Among other results, we show that in the case of...

We present a unified approach to value at risk analysis under heavy-tailedness using new majorization theory for linear combinations of thick-tailed random variables that we develop. Among other results, we show that the stylized fact that portfolio diversification is always preferable is...

This paper studies the properties of the sex ratio in two-period models of threshold (e.g., polygenic or temperature-dependent) sex determination under heavy-tailedness in the framework of possibly skewed stable distributions and their convolutions. We show that if the initial distribution of...

We study multiline insurance companies with limited liability. Insurance premiums are determined by no-arbitrage principles. The results are developed under the realistic assumption that the losses created by insurer default are allocated among policyholders following an "ex post", pro rata,...

This paper focuses on the study of portfolio diversification and value at risk analysis under heavy-tailedness. We use a notion of diversification based on majorization theory that will be explained in the text. The paper shows that the stylized fact that portfolio diversification is preferable...

In this paper, we obtain characterizations of higher order Markov processes in terms of copulas corresponding to their finite-dimensional distributions. The results are applied to establish necessary and sufficient conditions for Markov processes of a given order to exhibit <italic>m</italic>-dependence,...