Empirical analyses on income and wealth inequality and those in other fields in economics and finance often face the difficulty that the data is heterogeneous, heavy-tailed or correlated in some unknown fashion. The paper focuses on applications of the recently developed \textit{t}-statistic...

In this paper, we obtain sharp estimates for the expected payoffs and prices of European call options on an asset with an absolutely continuous price in terms of the price density characteristics. These techniques and results complement other approaches to the derivative pricing problem. Exact...

This paper utilizes three large databases to better understand the characteristics of cyber loss events, especially how to deal with data biases and how cyber losses evolve over time. We first deal with the problem of report delay with an extended two-stage model in combination with detailed...