We analyse a long panel of households' stock market beliefs to gain insights into the nature of their expectations formation processes. We classify respondents into one of five groups based on their data and estimate group-wise models of expectations formation. Two of the groups are at opposite...

We propose a new model for the aggregation of risks that is very flexible and useful in high dimensional problems. We propose a copula-based model that is both hierarchical and hybrid (HYC for short), because: (i) the dependence structure is modeled as a hierarchical copula, (ii) it unifies the...

Clustering methods group individuals or objects based on information about their similarity or proximity. When the raw information to generate clusters cannot be easily observed or verified, the cluster designer must rely on information reported by individuals behind the observations. When these...

The recording of symbolic data has become a common practice with the advances in database technologies. This paper shows hard and fuzzy relational clustering in order to partition symbolic data. These methods optimize objective functions based on a dissimilarity function. The distance used is a...