Economics, Econometrics and Finance
6 years ago

New tool for analyzing tail behavior in Pareto distributions unveiled!

arXiv (Cornell University)
A goodness of fit test for the Pareto distribution
Emanuele Taufer, Flavio Santi, Giuseppe Espa, Maria Michela Dickson

Paper Summary

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The researchers found a way to test if data follows a specific pattern called the Pareto distribution. They used a method that looks at how well the data fits this pattern. This method can help analyze the tail of the data and check if it matches the Pareto distribution.