Short-term risk management is becoming increasingly significant in power trading as the intermittent renewable generators introduce more weather into price formation dynamics. There a vacuum hedging instruments at day-ahead stage to protect retailers particular from such volatility and spikes. Motivated by this requirement, paper analyses flexible product, cap futures. For pricing we parametric...

We present a new skew-normal distribution, denoted by NSN($lambada$). We first derive the density and moment generating function of NSN($lambada$). The properties of SN($lambada$), the known skew-normal distribution of Azzalini, and NSN($lambada$) are compared with each other. Finally, a numerical example for testing about the parameter $lambada$ in NSN($lambada$) is given. ...

‎The goal of this study is to introduce an Asymmetric Uniform-Laplace (AUL) distribution‎. ‎We present a detailed theoretical description of this distribution‎. ‎We try to estimate the parameters of AUL distribution using the maximum likelihood method‎. ‎Since the likelihood approach results in complicated forms‎, ‎we suggest a bootstrap-based approach for es...

The entropy and mutual information index are important concepts developed by Shannon in the context of information theory. They have been widely studied in the case of the multivariate normal distribution. We first extend these tools to the full symmetric class of multivariate elliptical distributions and then to the more flexible families of multivariate skew-elliptical distributions. We study...

In this paper, using generalized partial skew versions of Armendariz rings, we study the transfer of left (right) zip property between a ring R and partial skew generalized power series rings

Bivariate clustered (correlated) data often encountered in epidemiological and clinical research are routinely analyzed under a linear mixed model (LMM) framework with underlying normality assumptions of the random effects and within-subject errors. However, such normality assumptions might be questionable if the data set particularly exhibits skewness and heavy tails. Using a Bayesian paradigm...

Asymptotic robustness against misspecification of the underlying distribution for the polychoric correlation estimation is studied. The asymptotic normality of the pseudo-maximum likelihood estimator is derived using the two-step estimation procedure. The t distribution assumption and the skew-normal distribution assumption are used as alternatives to the normal distribution assumption in a num...

In this paper, some properties of $alpha$-skew Armendariz and central Armendariz rings have been studied by variety of others. We generalize the notions to central $alpha$-skew Armendariz rings and investigate their properties. Also, we show that if $alpha(e)=e$ for each idempotent $e^{2}=e in R$ and $R$ is $alpha$-skew Armendariz, then $R$ is abelian. Moreover, if $R$ is central $alpha$-skew A...