In this paper non-normal distributions via scale mixtures are introduced into insurance applications. The symmetric distributions of interest are the Student-t and exponential power (EP) distributions. ... We shall show that the computational burden for the Bayesian calculations is alleviated...

Purpose: This study investigates the effect of renting in land on farm productivity, and the impacts of rented-in land size and transaction partner type on farm productivity. Design/methodology/approach: Data from the 2015 China Household Finance Survey are analyzed using an extended regression...

The normal error distribution for the observations and log-volatilities in a stochastic volatility (SV) model is replaced by the Student-t distribution for robustness consideration. The model is then called the t-t SV model throughout this paper. The objectives of the paper are twofold. First,...