Everyone agrees the normal distribution isn't a great statistical model for stock market returns, but no generally accepted alternative has emerged. A bottom-up simulation points to the Laplace ...
The Canadian Journal of Statistics / La Revue Canadienne de Statistique, Vol. 49, No. 3 (September/septembre 2021), pp. 698-730 (33 pages) We propose a flexible Bayesian semiparametric quantile ...
Recent empirical studies have shown that firm growth rate distribution is not Gaussian but closely follows a Laplace distribution. This robust feature of the growth rate distribution challenges ...
One of the main models in industrial organisation assumes that firms grow in a response to many small shocks that satisfy the central limit theorem. This column shows that if the shocks do not follow ...
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