This paper proposes a new approach to measure dependencies in multivariate financial data. Data in finance and insurance often cover a long time period. Therefore, the economic factors may induce some changes within the dependence structure. Recently, two methods have been proposed using copulas...

The authors model a terrorist organization’s choice over the scale and planning horizon of terror attacks and the consequences for the organization’s evolution. The organization can engage in short-term attacks planned and executed in a single period, characterized by a low fixed...