The inefficiency term in stochastic frontier models is usually assumed to have positive skewness; but when this assumption is not met, efficiency scores are overestimated. Potential endogeneity of model regressors poses an additional empirical challenge and greatly hinders identification of...

This paper investigates an optimal reinsurance policy using a risk model with dependent claim and insurance premium by assuming that the insurance premium is random. Their dependence structure is modeled using Sarmanov’s bivariate exponential distribution and the Farlie–Gumbel–Morgenstern...

While demand models require a sound understanding of economic processes and should be flexible enough to capture nonlinearities, endogeneity can greatly hinder the identification of (nonlinear) causal relationships. To tackle these issues, we extend the instrument-free Gaussian copula approach...

Taking a simplified approach to statistics, this textbook teaches students the skills required to conduct and understand quantitative research. It provides basic mathematical instruction without compromising on analytical rigor, covering the essentials of research design; descriptive statistics;...