Traders in bonds and credit default swaps are bombarded with information on the default probabilities implied by credit spreads using a simple ratio. This ratio predicts that the credit spread will be ...

This is a preview. Log in through your library . Abstract In this paper we offer a mathematical definition for the probability of causation that formalizes the legal and ordinary-language meaning of ...

The Annals of Applied Probability, Vol. 23, No. 3 (June 2013), pp. 1074-1085 (12 pages) We construct an edge-weight distribution for i.i.d. first-passage percolation on ℤ 2 whose limit shape is not a ...