Modeling Dependence in Econometrics

Selected Papers of the Seventh International Conference of the Thailand Econometric Society, Faculty of Economics, Chiang Mai University, Thailand, January 8-10, 2014

  • Van-Nam Huynh
  • Vladik Kreinovich
  • Songsak Sriboonchitta

Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 251)

Table of contents

  1. Front Matter
    Pages 1-18
  2. Keynote Paper

    1. Front Matter
      Pages 1-1
    2. Christian Francq, Jean-Michel Zakoïan
      Pages 3-19
  3. Fundamental Theory

    1. Front Matter
      Pages 21-21
    2. Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta
      Pages 63-79
    3. Jennifer S. K. Chan, Connie P. Y. Lam, S. T. Boris Choy
      Pages 81-99
    4. Zheng Wei, Tonghui Wang, Wararit Panichkitkosolkul
      Pages 113-126
    5. Cathy W. S. Chen, Max Chen, Shu-Yu Chen
      Pages 127-140
  4. Applications

About these proceedings

Introduction

In economics, many quantities are related to each other. Such
economic relations are often much more complex than relations in
science and engineering, where some quantities are independence,
and the relation between others can be well approximated by linear
functions. As a result of this complexity, when we apply
traditional statistical techniques -- developed for science and
engineering -- to process economic data, the inadequate treatment
of dependence leads to misleading models and erroneous predictions.
Some economists even blamed such inadequate treatment of dependence
for the 2008 financial crisis.

To make economic models more adequate, we need more accurate
techniques for describing dependence. Such techniques are currently
being developed. This book contains description of state-of-the-art
techniques for modeling dependence, and economic applications of
these techniques. Most of these research developments are centered
around the notion of a copula -- a general way of describing
dependence in probability theory and statistics. To be even more
adequate, many papers go beyond traditional copula techniques and
take into account, e.g., the dynamical (changing) character of the
dependence in economics.

Keywords

Computational Intelligence Econometrics Economics Chiang Mai University Modeling Dependence in Econometrics Thailand Econometric Society

Editors and affiliations

  • Van-Nam Huynh
    • 1
  • Vladik Kreinovich
    • 2
  • Songsak Sriboonchitta
    • 3
  1. 1.APAN Advanced Institute of Science and TechnologyIshikawaJapan
  2. 2.Department of Computer ScienceUniversity of Texas at El PasoEl PasoUSA
  3. 3.Faculty of EconomicsChiangmai UniversityChiangmaiThailand

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-03395-2
  • Copyright Information Springer International Publishing Switzerland 2014
  • Publisher Name Springer, Cham
  • eBook Packages Engineering
  • Print ISBN 978-3-319-03394-5
  • Online ISBN 978-3-319-03395-2
  • Series Print ISSN 2194-5357
  • Series Online ISSN 2194-5365
  • About this book