Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89388
Authors: 
Bottazzi, Giulio
Year of Publication: 
2009
Series/Report no.: 
LEM Working Paper Series 2007/07
Abstract: 
This note analyzes the distributional properties of Pareto Type III random variables. The orignal two parameters distribution proposed by Pareto is expanded in a three parameters version and both its density and characteristic function are derived. The analytic expression of the inverse distribution function is also obtained, together with a simple series expansion of its moments of any order. Finally, we propose a simple statistical exercise designed to show the increased reliability of the Pareto Type III distribution in describing asymptotically dumped power-like behaviors.
Subjects: 
Pareto Distribution
Fat Tails
Power Law Distribution
Zipf Law
JEL: 
C1
C6
C8
Document Type: 
Working Paper

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