The skewness of a statistical distribution is often used to determine whether that distribution is symmetric or not. Such a determination is misleading. To show this we have analyzed a broad range of (classes of) skewness measures – complying with the requirements of a general skewness measure...

It is a well known from the empirical option pricing literature, that actual option prices show persistent and systematic deviations from theoretical values under standard pricing assumptions. While a substantial number of enhancements have been proposed, these approaches typically leave...

Continuous statistical distributions can be broken down into symmetric and asymmetric distributions. Asymmetric distributions deviate from symmetric ones by having different shapes on the left and right side of a suitable point of symmetry. They can be classified into “left”- and...