This paper focuses on an econometric model which allows discontinuous change in an explained variable for a small continuous change in parameters. This model, given by stochastic differential equation with cubic drift, is called the cusp within standard catastrophe theory. The closed-form...

This paper characterizes a class of multivariate distributions that includes the multinormal and is contained in the exponential family. The wide range of possible applications of these distributions is suggested by some of the characteristics germane to them: First, they maximize Shannon's...