Extended Slash Modified Lindley Distribution to Model Economic Variables Showing Asymmetry
- Title
- Extended Slash Modified Lindley Distribution to Model Economic Variables Showing Asymmetry
- Creator
- Gillariose J.; Joseph J.; Chesneau C.
- Description
- This article introduces a novel probability distribution to model economic variables with high kurtosis and heavy tails showing a decreasing trend. From a mathematical viewpoint, it corresponds to the distribution of the ratio of two independent random variables, one with the modified Lindley distribution and another with the beta distribution. In some sense, it can be described as an extended three-parameter version of the Lindley distribution that has the ability to model data with high kurtosis. After presenting this distribution in more in-depth details, a comprehensive analysis is given, including its associated functions, moments, skewness, and kurtosis characteristics. Furthermore, a parametric estimation work is carried out. A simulation approach is used to validate the performance of the obtained estimates. The applicability of the proposed distribution is demonstrated by fitting real-world data into various socioeconomic scenarios. The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2024.
- Source
- Computational Economics
- Date
- 2024-01-01
- Publisher
- Springer
- Subject
- Data fitting; Income data; Lindley distribution; Maximum likelihood estimation; Slash Lindley distribution
- Coverage
- Gillariose J., Department of Statistics and Data Science, CHRIST (Deemed to be University), Hosur Road, Karnataka, Bangalore, 560029, India; Joseph J., SCAPS, Marian College Kuttikkanam, Kuttikkanam P.O, Peermade, Kerala, Idukki District, India; Chesneau C., Department of Mathematics, LMNO, University of Caen, Caen, 14032, France
- Rights
- Restricted Access
- Relation
- ISSN: 9277099
- Format
- Online
- Language
- English
- Type
- Article
Collection
Citation
Gillariose J.; Joseph J.; Chesneau C., “Extended Slash Modified Lindley Distribution to Model Economic Variables Showing Asymmetry,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 24, 2025, https://archives.christuniversity.in/items/show/13386.