A New Continuous Distribution and Two New Families of Distributions Based on the Exponential
AbstractRecent work on social status led to derivation of a new continuous distribution based on the exponential. The new variate, termed the ring(2)-exponential, in turn leads to derivation of two closely-related new families of continuous distributions, which we call the mirror-exponential and the ring-exponential. Both the standard exponential and the ring(2)-exponential are special cases of both the new families. In this paper, we first focus on the ring(2)-exponential, describing its derivation and examining its properties, and next introduce the two new families, describing their derivation and initiating exploration of their properties. The mirror-exponential arises naturally in the study of status; the ring-exponential arises from the mathematical structure of the ring(2)-exponential. Both have potential for broad application in diverse contexts across science and engineering, including the physical and social sciences as well as finance, information processing, and communication. Within sociobehavioral contexts, the new mirror-exponential may have application to the problem of approximating the form and inequality of the wage distribution.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2598.
Length: 40 pages
Date of creation: Feb 2007
Date of revision:
Publication status: published in: Statistica Neerlandica, 2007, 61(3), 305-328
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Other versions of this item:
- Guillermina Jasso & Samuel Kotz, 2007. "A new continuous distribution and two new families of distributions based on the exponential," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, Netherlands Society for Statistics and Operations Research, vol. 61(3), pages 305-328.
- C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
- C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Econometric and Statistical Methods; Specific Distributions
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D6 - Microeconomics - - Welfare Economics
- I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-02-24 (All new papers)
- NEP-ECM-2007-02-24 (Econometrics)
- NEP-SOC-2007-02-24 (Social Norms & Social Capital)
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- Jasso, Guillermina, 2008. "A New Model of Wage Determination and Wage Inequality," IZA Discussion Papers 3850, Institute for the Study of Labor (IZA).
- Jasso, Guillermina, 2009. "Linking Individuals and Societies," IZA Discussion Papers 4288, Institute for the Study of Labor (IZA).
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