Before revision: In this paper we introduce some new copulas emerging from shock models , motivated by applications, i. e. the reflected maxmin copulas with dependent endogenous shocks and their extension to multivariate case. Our main goal is to show that reflected maxmin copulas exhibit conceptually better characteristics as the original maxmin copulas .
After revision: In this paper we introduce some new copulas emerging from shock models , motivated by applications, i. e. the reflected maxmin copulas (RMM for short) are not just some specific singular copulas; they contain many important absolutely continuous copulas including the negative quadrant dependent part of the URLenstern class. The main goal of this paper is to develop the RMM copulas with dependent endogenous shocks and give evidence that RMM copulas may exhibit some characteristics better than the original maxmin copulas .