The next example illustrates population clusters with nonconvex density contours. The following SAS statements produce Figure 8.22. data noncon; keep x y; do i=1 to 100; a=i*.0628319; ...

In the present paper, we take a further look at nonconvex, noncash risk measures with p-norm (1 ≤ p ≤ ∞) for nonweak cone-type acceptable sets. A convex extension of the nonconvex, noncash risk ...