In many settings of empirical interest, time variation in the distribution parameters is important for capturing the dynamic behaviour of time series processes. Although the fitting of heavy tail distributions has become easier due to computational advances, the joint and explicit modelling of...

This paper illustrates the power of modern statistical modelling in understanding processes characterised by data that are skewed and have heavy tails. Our particular substantive problem concerns film box-office revenues. We are able to show that traditional modelling techniques based on the...

This paper reports on concepts and methods to incorporate the Markov-Switching Multifractal model for stochastic volatility introduced by Calvet and Fisher (2004) within the GAMLSS model introduced by Rigby and Stasinopoulos (2005), allowing generalization to a non-normal distribution. The...

In times of uncertainties scenarios offer a solution. Starting with Royal Dutch Shell by the late 1960s, corporate scenarios are intended to challenge managers’ “personal microcosms” and to reflect the present and the past, before structuring the uncertainties of the future. Therefore,...

The fusion of agent-based and geospatial models represents an exciting new synthesis for social science and economics. It has the potential to improve the theory and the practice of modelling complex real-world phenomena. Yet, to date, there has been little systematic analysis at the conceptual...

Studies of economic systems must consider how to handle interdependent feedback interactions of micro behaviors, interaction patterns and macroscopic regularities. The Agent-Field framework is an approach for agent-based computational economics. In this framework, models of economic systems are...

Techniques and issues for the characterisation of an object-field representation that includes notions of semantics and uncertainty are detailed. The purpose of this model is to allow users to capture objects in field with internally variable levels of uncertainty, to visualize users'...

The need for a conceptually unifying data model for the representation of geospatial phenomena has already been acknowledged. There has been some activity in developing unifying data models for geospatial representation in digital form and some successes have been reported. Nevertheless,...

Although much uncertainty exists in simulating future climate profiles with earth system models (ESMs), it has not been evaluated in relation to socioeconomic aspects. In this study, we analyze the socioeconomic impact of three emission pathways, all of which possibly achieve 4.5 W/m2 of...