Economics, Econometrics and Finance
a year ago
New extropy measures reveal hidden connections in bivariate distributions.
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Paper Summary
The article introduces new extropy measures based on different types of copulas and explores their properties. The researchers examine how monotone transformations affect these measures and establish connections between them and well-known dependence measures like Spearman's rho and Kendall's tau. They also propose estimators for these extropy measures and demonstrate their application using real-life datasets.