A compendium of copulas

Applications of copulas are too numerous to list. Some recent applications have been: simulation of multivariate sea storms (Corbella and Stretch, 2013); dependence structure between the stock and foreign exchange markets (Wang et al., 2013); operational risk management (Arbenz, 2013); portfolio optimization in the presence of dependent financial returns with long memory (Boubaker and Sghaier, 2013); risk evaluation of droughts across the Pearl River basin, China (Zhang et al., 2013); probabilistic assessment of flood risks (Ganguli and Reddy, 2013); estimation of distribution algorithms for coverage problem of wireless sensor network (Wang et al., 2012); risk assessment of hydroclimatic variability on groundwater levels in the Manjara basin aquifer in India (Reddy and Ganguli, 2012); models of tourists’ time use and expenditure behavior with self-selection (Zhang et al., 2012); modeling wind speed dependence in system reliability assessment using copulas (Xie