Motivated by hydrological problems, the exact distributions of the sum X + Y, the product X Y and the ratio X/(X + Y) are derived when X and Y are independent Pareto random variables. A detailed application of the results is provided to extreme rainfall data from Florida. Copyright...

In the current paper, the estimation of the shape and location parameters α and c, respectively, of the Pareto distribution will be considered in cases when c is known and when both are unknown. Simple random sampling (SRS) and ranked set sampling (RSS) will be used, and several traditional and...

In this paper we first analyze the stylized facts of electricity prices, in particular, the extreme volatility and price spikes which lead to heavy-tailed distributions of price changes. Then we calibrate Markov regime-switching (MRS) models with heavy-tailed components and show that they...

The aim of this study is to investigate the impacts of trade policy changes on the order of the size of cities and economic growth of Guatemala between 1921 and 2002. The Pareto coefficient was estimated and an index was used to measure the degree of urban concentration. Finally, a model of the...

According to previous studies that applied a popular goodness-of-fit test, the wealth of the world’s billionaires does not follow a Pareto distribution. The test applied by those studies assumes that wealth is measured without error, yet, if different sources of data on the wealthiest people...

This paper formulates a random-growth urban model with a notion of geographical fitness. Using techniques of complex-network theory, we study our system as a type of preferential-attachment model with fitness, and we analyze its macro behavior to clarify the properties of the city-size...

We study the validity of Zipf’s Law in a data set of Chinese city sizes for the years 1999–2004, when the numbers of cities remain almost constant after a rapid urbanization process during the period of the market-oriented economy and reform-open policy. Previous investigations are...

This work presents a comprehensive study of the evolution of the expenditure distribution in India. The consumption process is theoretically modeled based on certain physical assumptions. The proposed statistical model for the expenditure distribution may follow either a double Pareto...

In this study, VOCs ambient concentrations measured in Bangkok, Thailand from January 2008 to January 2012 were analyzed. Data from VOCs monitoring stations represented roadside, general, and suburban areas of Bangkok were interpreted. Each VOCs sample was speciated for 44 compounds and was...