In a series of papers in the 1970s, Camilo Dagum proposed several variants ofa new model for the size distribution of personal income. This Chapter traces thegenesis of the Dagum distributions in applied economics and points out paralleldevelopments in several branches of the applied statistics...

There are several possibilities to introduce skewness into a symmetric distribution. One ofthese procedures applies two di®erent parameters of scale { with possibly di®erent weights {to the positive and the negative part of a symmetric density. Within this work we show thatthis technique...

With the celebrated model of Black and Scholes in 1973 the development ofmodern option pricing models started. One of the assumptions of the Blackand Scholes model is that the risky asset evolves according to a geometricBrownian motion which implies normally distributed log-returns. As...

Tukey (1960) derived via the technique of transformation of variables starting from the normal distribution a family of skewed and leptokurtic distributions. Skewness and leptokurtosis are determined by two parameters g and h. Therefore, the family was called family gh-distributions. We modify...