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A Generalization of New Pareto-Type Distribution

Author

Listed:
  • Kadir Karakaya

    (Selcuk University)

  • Yunus Akdoğan

    (Selcuk University)

  • A. Saadati Nik

    (University of Mazandaran)

  • Coşkun Kuş

    (Selcuk University)

  • Akbar Asgharzadeh

    (University of Mazandaran)

Abstract

In this paper, we propose a new generalization of Pareto distribution with a truncation parameter. Motivation is provided to generate the distribution. The shape of density and hazard functions are studied in mathematical detail. The raw moments are derived and stochastic ordering is also discussed. The parameter estimation is discussed through several estimators. A simulation study is conducted to compare the estimators. Three examples are provided with real data sets used in the literature.

Suggested Citation

  • Kadir Karakaya & Yunus Akdoğan & A. Saadati Nik & Coşkun Kuş & Akbar Asgharzadeh, 2024. "A Generalization of New Pareto-Type Distribution," Annals of Data Science, Springer, vol. 11(1), pages 87-101, February.
    • Handle: RePEc:spr:aodasc:v:11:y:2024:i:1:d:10.1007_s40745-022-00376-x
    DOI: 10.1007/s40745-022-00376-x
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    References listed on IDEAS

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    1. Md. Mahabubur Rahman & Bander Al-Zahrani & Muhammad Qaiser Shahbaz, 2020. "Cubic Transmuted Pareto Distribution," Annals of Data Science, Springer, vol. 7(1), pages 91-108, March.
    2. Abbas Mahdavi & Debasis Kundu, 2017. "A new method for generating distributions with an application to exponential distribution," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 46(13), pages 6543-6557, July.
    3. Aban, Inmaculada B. & Meerschaert, Mark M. & Panorska, Anna K., 2006. "Parameter Estimation for the Truncated Pareto Distribution," Journal of the American Statistical Association, American Statistical Association, vol. 101, pages 270-277, March.
    4. Krishnaji, N, 1970. "Characterization of the Pareto Distribution Through a Model of Underreported Incomes," Econometrica, Econometric Society, vol. 38(2), pages 251-255, March.
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