Some alternative bivariate Gumbel models

For modelling bivariate extremes, the classical bivariate Gumbel models are limited in their flexibility for fitting real world data sets. Alternative models, derived via conditional specification, are introduced in the current paper. A key difference between the classical models and the conditional specification models is to be found in the sign of the correlation between the variables in the models: non-negative for classical models, non-positive for conditionally specified models. (C) 1998 John Wiley & Sons, Ltd.