Systemic risk is a key problem of this century. One of the most interesting methodological
solutions to this problem was given in the past century in the work of Albert Marshall and
Ingram Olkin. This book collects advances in this theory presented at the international
conference opening the academic year of the Graduate Course in Quantitative Finance at
the University of Bologna, held in Bologna in October 2013. A systemic event is something
that affects a set of objects at the same time. With society and the economy becoming global …

This book presents the latest advances in the theory and practice of Marshall-Olkin
distributions. These distributions have been increasingly applied in statistical practice in
recent years, as they make it possible to describe interesting features of stochastic models
like non-exchangeability, tail dependencies and the presence of a singular component. The
book presents cutting-edge contributions in this research area, with a particular emphasis on
financial and economic applications. It is recommended for researchers working in applied …