Modelling Extremal Events
In 'Modelling Extremal Events', Paul Embrechts and his co-authors dive into the fascinating world of extreme value theory, uncovering its profound implications in finance, insurance, and environmental sciences. This groundbreaking work explores how rare, high-impact events can vastly shape our understanding of risk and uncertainty. The authors intertwine rigorous mathematical models with real-world applications, challenging readers to rethink traditional approaches to risk assessment. With a captivating blend of theory and practicality, this book reveals the hidden patterns of extremes that often lie beneath the surface. Prepare to be intrigued by a realm where the seemingly improbable becomes essential for effective decision-making.
By Paul Embrechts, Claudia Klüppelberg, Thomas Mikosch
Published: 2013
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