JANET HEFFERNAN AND SIDNEY RESNICK

Abstract. Random vectors on the positive orthant whose distributions possess hidden regular variation are a subclass of those whose distributions are multivariate regularly varying with asymptotic independence. The concept is an elaboration of the coeffcient of tail dependence of Ledford and Tawn (1996, 1997). We show that the rank transform which brings unequal marginals to the standard case also preserves the hidden regular variation. We discuss applications of the results to two examples involving flood risk and Internet data.