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...

The banking sector has been on the spotlight in both academic and policy circles since the outburst of the subprime bubble. The crisis has its roots in the US, but there were spillover effects around the world. We study the behavior of the banking sector of 40 countries during the period...

In this paper, we develop a family of data clustering algorithms that combine the strengths of existing spectral approaches to clustering with various desirable properties of fuzzy methods. In particular, we show that the developed method “Fuzzy-RW,” outperforms other frequently used...

This paper addresses the problem of estimating a density, with either a compact support or a support bounded at only one end, exploiting a general and natural form of a finite mixture of distributions. Due to the importance of the concept of multimodality in the mixture framework, unimodal beta...

Successful implementation of integrated water resources planning and management (IWRM) requires delineation of regions that are relatively homogeneous with respect to multiple criteria, including hydrographic, physical-environmental, socioeconomic, and political-administrative aspects. The water...