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.
Gómez–déniz, E., & Calderín–ojeda, E. (2014). A Suitable Alternative to the Pareto Distribution. Hacettepe Journal of Mathematics and Statistics, 43(5), 843-860.
AMA
Gómez–déniz E, Calderín–ojeda E. A Suitable Alternative to the Pareto Distribution. Hacettepe Journal of Mathematics and Statistics. October 2014;43(5):843-860.
Chicago
Gómez–déniz, Emilio, and Enrique Calderín–ojeda. “A Suitable Alternative to the Pareto Distribution”. Hacettepe Journal of Mathematics and Statistics 43, no. 5 (October 2014): 843-60.
EndNote
Gómez–déniz E, Calderín–ojeda E (October 1, 2014) A Suitable Alternative to the Pareto Distribution. Hacettepe Journal of Mathematics and Statistics 43 5 843–860.
IEEE
E. Gómez–déniz and E. Calderín–ojeda, “A Suitable Alternative to the Pareto Distribution”, Hacettepe Journal of Mathematics and Statistics, vol. 43, no. 5, pp. 843–860, 2014.
ISNAD
Gómez–déniz, Emilio - Calderín–ojeda, Enrique. “A Suitable Alternative to the Pareto Distribution”. Hacettepe Journal of Mathematics and Statistics 43/5 (October 2014), 843-860.
JAMA
Gómez–déniz E, Calderín–ojeda E. A Suitable Alternative to the Pareto Distribution. Hacettepe Journal of Mathematics and Statistics. 2014;43:843–860.
MLA
Gómez–déniz, Emilio and Enrique Calderín–ojeda. “A Suitable Alternative to the Pareto Distribution”. Hacettepe Journal of Mathematics and Statistics, vol. 43, no. 5, 2014, pp. 843-60.
Vancouver
Gómez–déniz E, Calderín–ojeda E. A Suitable Alternative to the Pareto Distribution. Hacettepe Journal of Mathematics and Statistics. 2014;43(5):843-60.