Statistical modeling techniques-and factor models in particular-are extensively used in practice, especially in the insurance and finance industry, where many risks have to be accounted for. In risk management applications, it might be important to analyze the situation when fixing the value of...

Holst (1985) introduced a discrete spacings model that is related to the Bose-Einstein distribution and obtained the distribution of the number of vacant slots in an associated circle covering problem. We correct his expression for its probability mass function, obtain the first two moments, and...

It is well documented in the literature that the sample skewness and excess kurtosis can be severely biased in finite samples. In this paper, we derive analytical results for their finite-sample biases up to the second order. In general, the bias results depend on the cumulants (up to the sixth...