This book presents broadly applicable methods for the large deviation and moderate deviation analysis of discrete and continuous time stochastic systems. A feat
Rare events represent a great analytical challenge. The maximum likelihood-based (ML) binary logit model as the workhorse model in the social sciences can gener
In a probabilistic model, a rare event is an event with a very small probability of occurrence. The forecasting of rare events is a formidable task but is impor
This book reviews problems associated with rare events arising in a wide range of circumstances, treating such topics as how to evaluate the probability an insu