Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/40691
Full metadata record
DC FieldValueLanguage
dc.contributor.authorAlfarano, Simoneen_US
dc.contributor.authorLux, Thomasen_US
dc.date.accessioned2010-09-22en_US
dc.date.accessioned2010-10-04T09:08:28Z-
dc.date.available2010-10-04T09:08:28Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/40691-
dc.description.abstractPower law behavior has been recognized to be a pervasive feature of many phenomena in natural and social sciences. While immense research efforts have been devoted to the analysis of behavioural mechanisms responsible for the ubiquity of power-law scaling, the strong theoretical foundation of power laws as a very general type of limiting behavior of large realizations of stochastic processes is less well known. In this paper, we briefly present some of the key results of extreme value theory, which provide a statistical justification for the emergence of power laws as limiting behavior for extreme fluctuations. The remarkable generality of the theory allows to abstract from the details of the system under investigation, and therefore allows its application in many diverse fields. Moreover, this theory offers new powerful techniques for the estimation of the Pareto index, detailed in the second part of this chapter.en_US
dc.language.isoengen_US
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen_US
dc.relation.ispartofseries|aKiel Working Paper |x1648en_US
dc.subject.jelC16en_US
dc.subject.jelC46en_US
dc.subject.jelC63en_US
dc.subject.ddc330en_US
dc.subject.keywordpower lawen_US
dc.subject.keywordestimationen_US
dc.subject.keywordtail indexen_US
dc.subject.stwStatistische Verteilungen_US
dc.subject.stwStatistischer Testen_US
dc.subject.stwExtremwertanalyseen_US
dc.subject.stwTheorieen_US
dc.titleExtreme value theory as a theoretical background for power law behavioren_US
dc.type|aWorking Paperen_US
dc.identifier.ppn63541421Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:ifwkwp:1648-

Files in This Item:
File
Size
988.62 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.