A suitable alternative to the Pareto distribution
A suitable alternative to the Pareto distribution
Undoubtedly, the single parameter Pareto distribution is one of the most attractive distribution in statistics; a power law probability distribution found in a large number of real-world situations inside and outside the field of economics. Furthermore, it is usually used as a basis for excess of loss quotations as it gives a pretty good description of the random behaviour of large losses. In this paper, we introduce a distribution which can be considered as alternative to the single parameter Pareto distribution. A comprehensive treatment of its mathematical properties is considered with relevant emphasis on results concerning insurance. Additionally, estimation by the method of moments and maximum likelihood is discussed. Then, an analysis of estimation performance is carried out. Finally, the performance of the model is examined by using two examples of real claims data.
0,362
0,413
SCIE
860
843
Q2
Q4
Applications of statistics to actuarial sciences and financial mathematics, excess-of-loss reinsurance, gamma distribution, Credibility;excess-of-loss reinsurance;Pareto Distribution;Gamma Distribution;Ruin Function;Threshold, Bayesian inference, ruin function, Point estimation, credibility, Characterization and structure theory of statistical distributions, Risk theory, insurance, 530202 Modelos econométricos, threshold, Econometría, Distribución lineal
Applications of statistics to actuarial sciences and financial mathematics, excess-of-loss reinsurance, gamma distribution, Credibility;excess-of-loss reinsurance;Pareto Distribution;Gamma Distribution;Ruin Function;Threshold, Bayesian inference, ruin function, Point estimation, credibility, Characterization and structure theory of statistical distributions, Risk theory, insurance, 530202 Modelos econométricos, threshold, Econometría, Distribución lineal
selected citations These citations are derived from selected sources.This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).0 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Average influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Average impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Average
Citations provided by BIP!Popularity provided by BIP!