Asymmetric Parametric Models: Extremal Coefficient

This lecture covers asymmetric parametric models such as the bilogistic model and the Dirichlet model, providing alternatives to the logistic and Hüsler-Reiss models. It also discusses the extremal coefficient, a measure of dependence in extreme values, and its interpretation in terms of independent maxima. The lecture delves into the concept of concurrence probability, which quantifies the likelihood of all components of a multivariate maximum originating from a single extreme event. Various mathematical expressions and interpretations related to these models and concepts are explored, shedding light on their applications in statistical modeling and analysis.