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stat.ML2026
Conditional Tensor Diffusion: Distributional Counterfactual Learning and Inference
Xinbing Kong, Zeyu Li, Junfan Mao +1
Causal inference guides operational and managerial decisions but remains challenging in high-dimensional panel or tensor settings, where decisions may depend on the joint condition…
econ.EM2026
Expected Shortfall Factor Models: Common Tail Losses and Expected Returns
Yujie Hou, Xinbing Kong, Yalin Wang +1
We develop an expected shortfall factor model (ESFM) to estimate and price common variation in the severity of lower-tail losses in large panels of asset returns. Mean factor model…