Estimating (co)variance parameters of a random regression model for test day yields of dairy cattle has been proven to be a challenging task due to the complexity of (co)variance structure of the test day yields. Two common approaches have been practised so far for the estimation of parameters: direct random regression model approach and indirect covariance functions (CF) approach. Animal genet...

Abstract In this paper we introduce a new criterion in order to measure the variance and covariance risks in financial markets. In an asset allocation framework with stochastic (co)variances, we consider the possibility to invest also in variance swaps, that are assets which span the volatility as well as the co-volatility risks. We provide explicit solutions for the portfolio optimization prob...

The aim of this study was using Bayesian approach via Gibbs sampling (GS) for estimating genetic parameters of production, reproduction and health traits in Iranian Holstein cows. Data consisted of 320666 first- lactation records of Holstein cows from 7696 sires and 260302 dams collected by the animal breeding center of Iran from year 1991 to 2010. (Co) variance components were estimated using ...