Munich Personal RePEc Archive

Decoding Entropy

Mhaskar, Tejas (2013): Decoding Entropy.


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Since its evolution, the concept of Entropy has been applied in various fields like Computer Science, Quantitative Finance, Physics etc. The definition of Entropy has slightly different meanings depending on the field of science to which it is being applied. This paper aims to examine the concept of Entropy and its application in Credit Risk Model Development and Validation.

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