dc.contributor.author | Pant, Mohan | |
dc.contributor.author | Headrick, Todd C. | |
dc.date.accessioned | 2014-01-15T02:29:58Z | |
dc.date.available | 2014-01-15T02:29:58Z | |
dc.date.issued | 2013 | |
dc.identifier.citation | Published in the Journal of Statistical and Econometric Methods Vol. 2, no.3:17-40, 2013 | en_US |
dc.identifier.issn | 2051-5057 (print) | |
dc.identifier.issn | 2051-5065 (online) | |
dc.identifier.uri | http://hdl.handle.net/10106/23983 | |
dc.description.abstract | This paper introduces a method for simulating univariate and multivariate Dagum
distributions through the method of 𝐿-moments and 𝐿-correlations. A method is developed
for characterizing non-normal Dagum distributions with controlled degrees of 𝐿-skew,
𝐿-kurtosis, and 𝐿-correlations. The procedure can be applied in a variety of contexts such
as statistical modeling (e.g., income distribution, personal wealth distributions, etc.) and
Monte Carlo or simulation studies. Numerical examples are provided to demonstrate that
𝐿-moment-based Dagum distributions are superior to their conventional moment-based
analogs in terms of estimation and distribution fitting. Evaluation of the proposed method
also demonstrates that the estimates of 𝐿-skew, 𝐿 -kurtosis, and 𝐿 -correlation are
substantially superior to their conventional product-moment based counterparts of skew,
kurtosis, and Pearson correlation in terms of relative bias and relative efficiency–most
notably in the context of heavy-tailed distributions. | |
dc.language.iso | en_US | en_US |
dc.publisher | Scienpress Ltd. | en_US |
dc.subject | Dagum distributions | en_US |
dc.subject | L-moments | en_US |
dc.subject | L-correlations | en_US |
dc.title | An L-Moment Based Characterization of the Family of Dagum Distributions | en_US |
dc.type | Article | en_US |
dc.publisher.department | Department of Curriculum and Instruction, The University of Texas at Arlington | en_US |
dc.identifier.externalLink | http://www.scienpress.com/journal_focus.asp?main_id=68&Sub_id=IV&Issue=806 | en_US |
dc.identifier.externalLinkDescription | The original publication is available at the journal homepage | en_US |