Default probability distributions are often defined in terms of their conditional default probability distribution, or their hazard rate. By their definition, they imply a unique probability density function. The applications of default probability distributions are varied, including the risk...

This paper is a short introduction on Big Data for the RDA educational corner. The purpose of this presentation is to motivate a greater discussion of what is Big Data, how it is transforming the future of finance and what are the essential opportunities and concerns when using Big Data....

Self-serving altruistic domestic consumption arises when foreign consumption contributes to the domestic utility of consumption. This is particularly the case when consumption saturated economies with excess capacities vie to increase their employment and expand their foreign trade to maintain...

The purpose of this paper is to assess the risk premium a fractional financial lognormal (Black-Scholes or BS) process relative to a non-fractional and complete financial pricing model. While fractional Brownian BS models based on the Duncan and Wicks calculus were shown to define a no arbitrage...

This paper considers an energy-pollution economic problem which uses a stochastic queue framework. This approach is shown to establish a link between a firm's energy consuming economic activity and its effects on the pollution that it generates as a function of its activity. An economic model is...

This paper considers a wealth heterogeneous multi-agent financial pricing CCAPM model and the effects of economic inequalities on agents consumption pricing. It is based on the following observations: (a) A distinction between what agents are willing to pay for consumption and what they actually...