{"product_id":"introduction-to-bayesian-estimation-and-copula-models-of-dependence-isbn-9781118959015","title":"Introduction to Bayesian Estimation and Copula Models of Dependence","description":"\u003cp\u003e\u003cb\u003ePresents an introduction to Bayesian statistics, presents an emphasis on Bayesian methods (prior and posterior), Bayes estimation, prediction, MCMC,Bayesian regression, and Bayesian analysis of statistical modelsof dependence, and features a focus on copulas for risk management\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIntroduction to Bayesian Estimation and Copula Models of Dependence \u003c\/i\u003eemphasizes the applications of Bayesian analysis to copula modeling and equips readers with the tools needed to implement the procedures of Bayesian estimation in copula models of dependence. This book is structured in two parts: the first four chapters serve as a general introduction to Bayesian statistics with a clear emphasis on parametric estimation and the following four chapters stress statistical models of dependence with a focus of copulas.\u003c\/p\u003e \u003cp\u003eA review of the main concepts is discussed along with the basics of Bayesian statistics including prior information and experimental data, prior and posterior distributions, with an emphasis on Bayesian parametric estimation. The basic mathematical background of both Markov chains and Monte Carlo integration and simulation is also provided. The authors discuss statistical models of dependence with a focus on copulas and present a brief survey of pre-copula dependence models. The main definitions and notations of copula models are summarized followed by discussions of real-world cases that address particular risk management problems.\u003c\/p\u003e \u003cp\u003eIn addition, this book includes:\u003c\/p\u003e \u003cp\u003e• Practical examples of copulas in use including within the Basel Accord II documents that regulate the world banking system as well as examples of Bayesian methods within current FDA recommendations\u003c\/p\u003e \u003cp\u003e• Step-by-step procedures of multivariate data analysis and copula modeling, allowing readers to gain insight for their own applied research and studies\u003c\/p\u003e \u003cp\u003e• Separate reference lists within each chapter and end-of-the-chapter exercises within Chapters 2 through 8\u003c\/p\u003e \u003cp\u003e• A companion website containing appendices: data files and demo files in Microsoft® Office Excel®, basic code in R, and selected exercise solutions\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIntroduction to Bayesian Estimation and Copula Models of Dependence \u003c\/i\u003eis a reference and resource for statisticians who need to learn formal Bayesian analysis as well as professionals within analytical and risk management departments of banks and insurance companies who are involved in quantitative analysis and forecasting. This book can also be used as a textbook for upper-undergraduate and graduate-level courses in Bayesian statistics and analysis.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eARKADY SHEMYAKIN, PhD, \u003c\/b\u003eis Professor in the Department of Mathematics and Director of the Statistics Program at the University of St. Thomas. A member of the American Statistical Association and the International Society for Bayesian Analysis, Dr. Shemyakin's research interests include informationtheory, Bayesian methods of parametric estimation, and copula models in actuarial mathematics, finance, and engineering.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eALEXANDER KNIAZEV, PhD, \u003c\/b\u003eis Associate Professor and Head of the Department of Mathematics at Astrakhan State University in Russia. Dr. Kniazev's research interests include representation theory of Lie algebras and finite groups, mathematical statistics, econometrics, and financial mathematics.\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003eHow This Book Is Different: The Eric Tyson\/Ray Brown Difference 1\u003c\/p\u003e \u003cp\u003eFoolish Assumptions 2\u003c\/p\u003e \u003cp\u003eIcons Used in This Book 3\u003c\/p\u003e \u003cp\u003eBeyond the Book 4\u003c\/p\u003e \u003cp\u003eWhere to Go from Here 4\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1: Getting Started with Selling Your House 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Deciding to Sell 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFiguring Out If You Really Need to Sell 9\u003c\/p\u003e \u003cp\u003eGood reasons to stay 10\u003c\/p\u003e \u003cp\u003eReasons to consider selling 15\u003c\/p\u003e \u003cp\u003eKnowing the Health of Your Housing Market 17\u003c\/p\u003e \u003cp\u003eSelling in a depressed housing market 17\u003c\/p\u003e \u003cp\u003eSelling during a strong market 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Selling and Your Personal Finances 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTrading Up 23\u003c\/p\u003e \u003cp\u003eExamining your housing budget 24\u003c\/p\u003e \u003cp\u003eFiguring your expected expenses after trading up 27\u003c\/p\u003e \u003cp\u003eDetermining the financial impact on your future goals 31\u003c\/p\u003e \u003cp\u003eExploring the other costs of trading up 31\u003c\/p\u003e \u003cp\u003eMaking Retirement Housing Decisions 32\u003c\/p\u003e \u003cp\u003eTrading down 32\u003c\/p\u003e \u003cp\u003eResearching reverse mortgages 38\u003c\/p\u003e \u003cp\u003eTax Facts Sellers and Landlords Ought to Know 43\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Exploring the Economics of Selling 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEstimating Proceeds of Sale 46\u003c\/p\u003e \u003cp\u003eEstimated sale price 46\u003c\/p\u003e \u003cp\u003eClosing costs 47\u003c\/p\u003e \u003cp\u003eMortgage payoff 48\u003c\/p\u003e \u003cp\u003eMoving expenses 50\u003c\/p\u003e \u003cp\u003ePutting it all together 51\u003c\/p\u003e \u003cp\u003eAssessing the Financial Feasibility of a Move 52\u003c\/p\u003e \u003cp\u003eResearching living costs and employment opportunities 52\u003c\/p\u003e \u003cp\u003eAvoiding relocation traps 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Confronting Financing Issues 57\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancing Decisions When Trading Up 58\u003c\/p\u003e \u003cp\u003eChoosing your mortgage 58\u003c\/p\u003e \u003cp\u003eFinancing improvements 59\u003c\/p\u003e \u003cp\u003eThe Trials and Tribulations of Seller Financing 61\u003c\/p\u003e \u003cp\u003eAsking yourself why you’d ever want to be a lender 62\u003c\/p\u003e \u003cp\u003eDeciding if seller financing is for you 63\u003c\/p\u003e \u003cp\u003eFinding creditworthy buyers 64\u003c\/p\u003e \u003cp\u003eDeciding what to charge 72\u003c\/p\u003e \u003cp\u003eProtecting yourself legally 73\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2: Tactical Considerations 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Timing Is Everything 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTiming the Sale of Your House 77\u003c\/p\u003e \u003cp\u003eFirst peak season: Spring flowers and For Sale signs bloom 79\u003c\/p\u003e \u003cp\u003eFirst valley: Summer doldrums 79\u003c\/p\u003e \u003cp\u003eSecond peak season: Autumn leaves and houses of every color 80\u003c\/p\u003e \u003cp\u003eDeath Valley: Real estate activity hibernates until spring 82\u003c\/p\u003e \u003cp\u003eThe Seller’s Quandary: Timing the Purchase of Your Home 82\u003c\/p\u003e \u003cp\u003eConsolidating Your Sale and Purchase 83\u003c\/p\u003e \u003cp\u003eDetermine your house’s current value 83\u003c\/p\u003e \u003cp\u003eCheck your buying power 84\u003c\/p\u003e \u003cp\u003eFamiliarize yourself with the market 85\u003c\/p\u003e \u003cp\u003eTake action 86\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: For Sale By Owner 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEyeing the Potential FSBO Advantages 89\u003c\/p\u003e \u003cp\u003eYou want to save money on commissions 90\u003c\/p\u003e \u003cp\u003eYou may already have a ready, willing, and able buyer 90\u003c\/p\u003e \u003cp\u003eYou may know the house and neighborhood well 91\u003c\/p\u003e \u003cp\u003eYou may be more motivated than an agent 91\u003c\/p\u003e \u003cp\u003eYou like challenges 92\u003c\/p\u003e \u003cp\u003eYou want to be in control 93\u003c\/p\u003e \u003cp\u003eYour house may sell itself 93\u003c\/p\u003e \u003cp\u003eFocusing on Potential FSBO Disadvantages 93\u003c\/p\u003e \u003cp\u003eYou may not know how to price property 93\u003c\/p\u003e \u003cp\u003eYou may not know how to prepare your house for sale 94\u003c\/p\u003e \u003cp\u003eYou may not know how to market your property 94\u003c\/p\u003e \u003cp\u003eYou may not know how to separate real buyers from fakes 94\u003c\/p\u003e \u003cp\u003eYou may not have enough experience as a negotiator 95\u003c\/p\u003e \u003cp\u003eYou may get yourself into legal trouble 95\u003c\/p\u003e \u003cp\u003eYou may not know how to close the sale 95\u003c\/p\u003e \u003cp\u003eIncreasing Your Chances of Success 96\u003c\/p\u003e \u003cp\u003eEducate yourself 96\u003c\/p\u003e \u003cp\u003eEnsure that other team members are especially strong 96\u003c\/p\u003e \u003cp\u003eCooperate with agents 97\u003c\/p\u003e \u003cp\u003eFinancially qualify prospective buyers 97\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Your Real Estate Team 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTeaming Up — A Winning Concept 99\u003c\/p\u003e \u003cp\u003eLanding the Perfect Listing Agent 101\u003c\/p\u003e \u003cp\u003eUnderstanding agent relationships 102\u003c\/p\u003e \u003cp\u003eRecognizing the best listing agents 104\u003c\/p\u003e \u003cp\u003eChoosing your listing agent 105\u003c\/p\u003e \u003cp\u003eAchieving top performance from the winner 112\u003c\/p\u003e \u003cp\u003eBringing in the Broker 113\u003c\/p\u003e \u003cp\u003eHandling House Inspectors 114\u003c\/p\u003e \u003cp\u003eArranging premarketing property inspections 114\u003c\/p\u003e \u003cp\u003eExploring the advantages of inspecting before marketing 115\u003c\/p\u003e \u003cp\u003eInvestigating inspectors 117\u003c\/p\u003e \u003cp\u003eThe Officiating Escrow Officer 120\u003c\/p\u003e \u003cp\u003eFinding Financial and Tax Advisors 121\u003c\/p\u003e \u003cp\u003eLocating a Good Lawyer 122\u003c\/p\u003e \u003cp\u003eChoosing among lawyers 123\u003c\/p\u003e \u003cp\u003eWorking well with your lawyer 124\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Listing Contracts and Commissions 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding Listing Contracts 125\u003c\/p\u003e \u003cp\u003eConsidering the Types of Listings 127\u003c\/p\u003e \u003cp\u003eExclusive listings 127\u003c\/p\u003e \u003cp\u003eOpen listings 137\u003c\/p\u003e \u003cp\u003eExamining Broker Compensation 139\u003c\/p\u003e \u003cp\u003eCommissions 139\u003c\/p\u003e \u003cp\u003eNet listings 144\u003c\/p\u003e \u003cp\u003eDiscount brokers 145\u003c\/p\u003e \u003cp\u003ePreparing Seller Disclosure Statements 147\u003c\/p\u003e \u003cp\u003eWhat information should you disclose? 147\u003c\/p\u003e \u003cp\u003eAn ounce of prevention is worth a pound of cure 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3: Getting Top Dollar When You Sell 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Preparing Your House for Sale 157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHandling Presale Preparation 158\u003c\/p\u003e \u003cp\u003eCreating curb appeal 158\u003c\/p\u003e \u003cp\u003eExteriors attract, but interiors sell 160\u003c\/p\u003e \u003cp\u003eStaging 162\u003c\/p\u003e \u003cp\u003eThink Again: Avoiding Major Improvements 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Determining Your House’s Value 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Cost, Price, and Value 168\u003c\/p\u003e \u003cp\u003eValue is elusive 168\u003c\/p\u003e \u003cp\u003eCost is history 169\u003c\/p\u003e \u003cp\u003ePrice is the here and now 170\u003c\/p\u003e \u003cp\u003eDetermining Fair Market Value (FMV) 170\u003c\/p\u003e \u003cp\u003eNeed-based pricing isn’t FMV 171\u003c\/p\u003e \u003cp\u003eMedian prices aren’t FMV 171\u003c\/p\u003e \u003cp\u003eUsing a Comparable Market Analysis 173\u003c\/p\u003e \u003cp\u003ePlaying with the numbers 176\u003c\/p\u003e \u003cp\u003eInterpreting CMA adjustments and flaws 177\u003c\/p\u003e \u003cp\u003eConsidering appraisals versus CMAs 179\u003c\/p\u003e \u003cp\u003eBidding Wars 180\u003c\/p\u003e \u003cp\u003eHow buyers and sellers get to FMV 180\u003c\/p\u003e \u003cp\u003eWhy “buying a listing” ruins property pricing 181\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Price It Right and Buyers Will Come 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGetting a Grasp on Pricing Methods 184\u003c\/p\u003e \u003cp\u003eFour-phase pricing: Prevalent but ineffective 184\u003c\/p\u003e \u003cp\u003ePleasure-pleasure-panic pricing: Fast, top-dollar sales 185\u003c\/p\u003e \u003cp\u003eQuantum pricing: An effective technique 188\u003c\/p\u003e \u003cp\u003eIdentifying Incentives and Gimmicks 190\u003c\/p\u003e \u003cp\u003eDeal-making incentives 191\u003c\/p\u003e \u003cp\u003eDeceptive gimmicks 191\u003c\/p\u003e \u003cp\u003eOverpricing Your House 192\u003c\/p\u003e \u003cp\u003eCan’t sell versus won’t sell 193\u003c\/p\u003e \u003cp\u003eThree factors all buyers consider 193\u003c\/p\u003e \u003cp\u003eDanger signs of overpricing 194\u003c\/p\u003e \u003cp\u003eThe foolproof way to correct overpricing 195\u003c\/p\u003e \u003cp\u003ePlacing the blame where it belongs 197\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4: the Brass Tacks of Selling Your House 199\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Marketing Your House 201\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdvertising That Works 201\u003c\/p\u003e \u003cp\u003eFor Sale sign 202\u003c\/p\u003e \u003cp\u003eClassified ads 203\u003c\/p\u003e \u003cp\u003eMultiple listing service (MLS) 206\u003c\/p\u003e \u003cp\u003eListing statement 207\u003c\/p\u003e \u003cp\u003eComputers 208\u003c\/p\u003e \u003cp\u003eWord of mouth 208\u003c\/p\u003e \u003cp\u003eArranging Open Houses 209\u003c\/p\u003e \u003cp\u003eBrokers’ opens 210\u003c\/p\u003e \u003cp\u003eWeekend open houses 210\u003c\/p\u003e \u003cp\u003eShowing Your Property 211\u003c\/p\u003e \u003cp\u003ePreshowing preparations 212\u003c\/p\u003e \u003cp\u003eThe final showing 213\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Using Technology to Sell Your House 215\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKnowing the Internet’s Limitations: The Net Alone Can’t Sell Your House 216\u003c\/p\u003e \u003cp\u003eEnsure good web promo of your house 216\u003c\/p\u003e \u003cp\u003eKnowing the truth about for-sale-by-owner (FSBO) sites 217\u003c\/p\u003e \u003cp\u003eRealize the limits of valuing your house online 219\u003c\/p\u003e \u003cp\u003eRelying on Technology to Determine Whether to Sell 220\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Negotiating Strategies for Sellers 223\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMastering Your Feelings 224\u003c\/p\u003e \u003cp\u003ePutting emotions in their place 225\u003c\/p\u003e \u003cp\u003eGaining detachment through an agent 226\u003c\/p\u003e \u003cp\u003eFollowing Some Basic Rules 227\u003c\/p\u003e \u003cp\u003eSurviving the Bargaining Process 227\u003c\/p\u003e \u003cp\u003eReceiving an offer to purchase 229\u003c\/p\u003e \u003cp\u003eDealing with contingencies — necessary uncertainty 231\u003c\/p\u003e \u003cp\u003eMaking a counteroffer 232\u003c\/p\u003e \u003cp\u003eNegotiating from a Position of Strength 236\u003c\/p\u003e \u003cp\u003eHandling multiple offers 237\u003c\/p\u003e \u003cp\u003eDelaying presentation of offers 237\u003c\/p\u003e \u003cp\u003eSetting guidelines for an orderly presentation process 238\u003c\/p\u003e \u003cp\u003eSelecting the best offer 239\u003c\/p\u003e \u003cp\u003eNegotiating from a Position of Weakness 241\u003c\/p\u003e \u003cp\u003eRejecting lowball offers 242\u003c\/p\u003e \u003cp\u003eConsidering other offers usually made in weak markets 244\u003c\/p\u003e \u003cp\u003eNegotiating credits in escrow 247\u003c\/p\u003e \u003cp\u003eDistinguishing Real Buyers from Fakes 251\u003c\/p\u003e \u003cp\u003eAre the buyers creditworthy? 252\u003c\/p\u003e \u003cp\u003eAre the buyers realistic? 252\u003c\/p\u003e \u003cp\u003eAre the buyers motivated? 252\u003c\/p\u003e \u003cp\u003eDo the buyers have a time frame? 252\u003c\/p\u003e \u003cp\u003eAre the buyers cooperative? 253\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: It Ain’t Over ’til the Check Clears 255\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEntering the Neutral Territory of an Escrow 255\u003c\/p\u003e \u003cp\u003eUnderstanding the role of the escrow officer 256\u003c\/p\u003e \u003cp\u003eMaximizing your escrow 257\u003c\/p\u003e \u003cp\u003eAvoiding the curse of December escrows 261\u003c\/p\u003e \u003cp\u003eLetting Go of Your House 262\u003c\/p\u003e \u003cp\u003eMoving daze 263\u003c\/p\u003e \u003cp\u003eThe final verification of condition 265\u003c\/p\u003e \u003cp\u003eSurviving Seller’s Remorse or (Gasp) the Dreaded Double Whammy 265\u003c\/p\u003e \u003cp\u003eConfronting your fears 266\u003c\/p\u003e \u003cp\u003eFacing the ultimate test 267\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Income Tax Filings after the Sale 269\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProfits from a House Sale 269\u003c\/p\u003e \u003cp\u003eDefining profits 270\u003c\/p\u003e \u003cp\u003eExcluding house sale profits from tax 270\u003c\/p\u003e \u003cp\u003eTax Filings Required after the Sale 271\u003c\/p\u003e \u003cp\u003eSchedule D: Capital Gains and Losses 272\u003c\/p\u003e \u003cp\u003eState income taxes on housing profits 275\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 5: the Part of Tens 277\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: Ten Things to Do After You Sell 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKeep Copies of the Closing and Settlement Papers 279\u003c\/p\u003e \u003cp\u003eKeep Proof of Improvements and Prior Purchases 280\u003c\/p\u003e \u003cp\u003eStash Your Cash in a Good Money Market Fund 280\u003c\/p\u003e \u003cp\u003eDouble-Check the Tax Rules for Excluding Tax on House Sale Profits 281\u003c\/p\u003e \u003cp\u003eCast a Broad Net When You Consider Your Next Home 282\u003c\/p\u003e \u003cp\u003eRemember That Renting Can Be a Fine Strategy 282\u003c\/p\u003e \u003cp\u003eReevaluate Your Personal Finances When Things Change 283\u003c\/p\u003e \u003cp\u003eDon’t Simply Rehire Your Listing Agent When You Repurchase 283\u003c\/p\u003e \u003cp\u003eThink Through Your Next Down Payment 284\u003c\/p\u003e \u003cp\u003eRemember to Send Change of Address Notices 284\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: Ten Tips for Selling Rental Real Estate 287\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDon’t Inadvertently Convert Your House into Income Property 287\u003c\/p\u003e \u003cp\u003eExercise Extra Care When You Sell Rental Property 289\u003c\/p\u003e \u003cp\u003eKnow How to Defer Your Investment Property Profits 289\u003c\/p\u003e \u003cp\u003eUnderstand Your Local Market to Time Your Sale 290\u003c\/p\u003e \u003cp\u003eUnderstand Opportunities for Adding Value 291\u003c\/p\u003e \u003cp\u003eMaximize Your Property’s Rental Income 292\u003c\/p\u003e \u003cp\u003eMinimize Your Property’s Expenses 292\u003c\/p\u003e \u003cp\u003eUtilize Agents with Investment Property Experience 293\u003c\/p\u003e \u003cp\u003eVisit Comparables and Review the Valuation Analysis 293\u003c\/p\u003e \u003cp\u003eWork with Tax and Legal Advisors Who Understand Rental Property 294\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Answers for Ten Questions Home Buyers May Ask 295\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Do You Like Best and Least about Living Here? 296\u003c\/p\u003e \u003cp\u003eWhy Are You Selling This Lovely House? 296\u003c\/p\u003e \u003cp\u003eHow Much Did You Pay for This House? 297\u003c\/p\u003e \u003cp\u003eHow Did You Establish the Asking Price? 298\u003c\/p\u003e \u003cp\u003eHave You Received Inspection Reports? 298\u003c\/p\u003e \u003cp\u003eMay I See Your Written Defect Disclosure Statement? 298\u003c\/p\u003e \u003cp\u003eAre There Any Neighborhood Changes That May Affect the Home’s Desirability? 299\u003c\/p\u003e \u003cp\u003eHow Many Times in the Last Year Have You Called the Police and Why? 299\u003c\/p\u003e \u003cp\u003eWhat Problems Have You Had with the House? 300\u003c\/p\u003e \u003cp\u003eWhat Are the Local Public Schools Like? 301\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 6: Appendixes 303\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAppendix A: Sample Real Estate Purchase Contract 305\u003c\/p\u003e \u003cp\u003eAppendix B: Example of a Good Inspection Report 317\u003c\/p\u003e \u003cp\u003eAppendix C: Glossary 333\u003c\/p\u003e \u003cp\u003eIndex 349\u003c\/p\u003e \u003cp\u003e\u003cb\u003eARKADY SHEMYAKIN, PhD, \u003c\/b\u003eis Professor in the Department of Mathematics and Director of the Statistics Program at the University of St. Thomas. A member of the American Statistical Association and the International Society for Bayesian Analysis, Dr. Shemyakin's research interests include informationtheory, Bayesian methods of parametric estimation, and copula models in actuarial mathematics, finance, and engineering.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eALEXANDER KNIAZEV, PhD, \u003c\/b\u003eis Associate Professor and Head of the Department of Mathematics at Astrakhan State University in Russia. Dr. Kniazev's research interests include representation theory of Lie algebras and finite groups, mathematical statistics, econometrics, and financial mathematics.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePresents an introduction to Bayesian statistics, presents an emphasis on Bayesian methods (prior and posterior), Bayes estimation, prediction, MCMC,Bayesian regression, and Bayesian analysis of statistical modelsof dependence, and features a focus on copulas for risk management\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIntroduction to Bayesian Estimation and Copula Models of Dependence \u003c\/i\u003eemphasizes the applications of Bayesian analysis to copula modeling and equips readers with the tools needed to implement the procedures of Bayesian estimation in copula models of dependence. This book is structured in two parts: the first four chapters serve as a general introduction to Bayesian statistics with a clear emphasis on parametric estimation and the following four chapters stress statistical models of dependence with a focus of copulas.\u003c\/p\u003e \u003cp\u003eA review of the main concepts is discussed along with the basics of Bayesian statistics including prior information and experimental data, prior and posterior distributions, with an emphasis on Bayesian parametric estimation. The basic mathematical background of both Markov chains and Monte Carlo integration and simulation is also provided. The authors discuss statistical models of dependence with a focus on copulas and present a brief survey of pre-copula dependence models. The main definitions and notations of copula models are summarized followed by discussions of real-world cases that address particular risk management problems.\u003c\/p\u003e \u003cp\u003eIn addition, this book includes:\u003c\/p\u003e \u003cp\u003e• Practical examples of copulas in use including within the Basel Accord II documents that regulate the world banking system as well as examples of Bayesian methods within current FDA recommendations\u003c\/p\u003e \u003cp\u003e• Step-by-step procedures of multivariate data analysis and copula modeling, allowing readers to gain insight for their own applied research and studies\u003c\/p\u003e \u003cp\u003e• Separate reference lists within each chapter and end-of-the-chapter exercises within Chapters 2 through 8\u003c\/p\u003e \u003cp\u003e• A companion website containing appendices: data files and demo files in Microsoft® Office Excel®, basic code in R, and selected exercise solutions\u003c\/p\u003e \u003cp\u003e\u003ci\u003eIntroduction to Bayesian Estimation and Copula Models of Dependence \u003c\/i\u003eis a reference and resource for statisticians who need to learn formal Bayesian analysis as well as professionals within analytical and risk management departments of banks and insurance companies who are involved in quantitative analysis and forecasting. This book can also be used as a textbook for upper-undergraduate and graduate-level courses in Bayesian statistics and analysis.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eARKADY SHEMYAKIN, PhD, \u003c\/b\u003eis Professor in the Department of Mathematics and Director of the Statistics Program at the University of St. Thomas. A member of the American Statistical Association and the International Society for Bayesian Analysis, Dr. Shemyakin's research interests include informationtheory, Bayesian methods of parametric estimation, and copula models in actuarial mathematics, finance, and engineering.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eALEXANDER KNIAZEV, PhD, \u003c\/b\u003eis Associate Professor and Head of the Department of Mathematics at Astrakhan State University in Russia. Dr. Kniazev's research interests include representation theory of Lie algebras and finite groups, mathematical statistics, econometrics, and financial mathematics.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989456011493,"sku":"NP9781118959015","price":123.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118959015.jpg?v=1761784169","url":"https:\/\/k12savings.com\/es\/products\/introduction-to-bayesian-estimation-and-copula-models-of-dependence-isbn-9781118959015","provider":"K12savings","version":"1.0","type":"link"}