Enterprise Risk Management Slides

Market Risk [24]

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Bullet points include: Often convenient to maximise log-likelihood rather than likelihood. Log(.) is a monotonically increasing function. pdfs often in practice assumed to come from a sub-set of the exponential family of distributions, e.g. pdf of (univariate) normal distribution is:

Bullet points include: Often convenient to maximise log-likelihood rather than likelihood. Log(.) is a monotonically increasing function. pdfs often in practice assumed to come from a sub-set of the exponential family of distributions, e.g. pdf of (univariate) normal distribution is:

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