Stochastic differential equations (SDEs) and random processes form a central framework for modelling systems influenced by inherent uncertainties. These mathematical constructs are used to rigorously ...

Ruin probability quantifies the risk that an insurer or financial institution’s liabilities may exceed its assets, ultimately leading to insolvency. Recent advancements in risk management have ...

Introduced is the notion of minimality for spectral representations of sum- and max-infinitely divisible processes and it is shown that the minimal spectral representation on a Borel space exists and ...