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The Advance in Partial Distribution£ºA New Mathematical Tool for Economic Management

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Author Info

  • Feng Dai

    (Zhengzhou Information Engineering University)

  • Lin Liang

    (Zhengzhou Information Engineering University)

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Abstract

In this paper, the Partial Distribution (PD) and multivariate Partial Distribution (MPD) are presented in their concepts, properties and applications, and PD is compared with the lognormal and the levy distribution. Though the levy distribution is better to describe the exchange returns in security market on a moderately large volatility range, the lognormal is better in a region of low values of volatility. We shall try to elucidate that Partial Distribution is better than lognormal distribution and levy distribution in many respects, and PD and MPD have some interesting properties which some other probability distributions have not. From PD and MPD, lots of interesting results can be acquired and many interesting economic propositions could be interpreted in analytic way. These properties could describe analytically many of phenomena in economic management better, and the results based on PD and MPD could be applied to solve many problems in economic management.

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Bibliographic Info

Paper provided by EconWPA in its series Econometrics with number 0508001.

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Length: 12 pages
Date of creation: 01 Aug 2005
Date of revision:
Handle: RePEc:wpa:wuwpem:0508001

Note: Type of Document - pdf; pages: 12
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Web page: http://128.118.178.162

Related research

Keywords: Partial Distribution; multivariate Partial Distribution; mathematical tool; economic management;

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  1. DAI & Feng QIN & Zifu, 2005. "DF Structure Models for Options Pricing," The IUP Journal of Applied Economics, IUP Publications, vol. 0(6), pages 61-77, November.
  2. Ross, Stephen A., 1978. "Mutual fund separation in financial theory--The separating distributions," Journal of Economic Theory, Elsevier, vol. 17(2), pages 254-286, April.
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  6. Feng Dai & Hui Liu & Ying Wang, 2005. "Multivariate Partial Distribution: A New Method of Pricing Group Assets and Analyzing the Risk for Hedging," Econometrics, EconWPA 0507012, EconWPA.
  7. Ofer Biham & Zhi-Feng Huang & Ofer Malcai & Sorin Solomon, 2002. "Long-Time Fluctuations in a Dynamical Model of Stock Market Indices," Papers cond-mat/0208464, arXiv.org.
  8. Salvatore Micciche` & Giovanni Bonanno & Fabrizio Lillo & Rosario N. Mantegna, 2002. "Volatility in Financial Markets: Stochastic Models and Empirical Results," Papers cond-mat/0202527, arXiv.org.
  9. Ross, Stephen A., 1976. "The arbitrage theory of capital asset pricing," Journal of Economic Theory, Elsevier, vol. 13(3), pages 341-360, December.
  10. Merton, Robert C, 1973. "An Intertemporal Capital Asset Pricing Model," Econometrica, Econometric Society, Econometric Society, vol. 41(5), pages 867-87, September.
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