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An L-Moment Based Characterization Of The Family Of Dagum Distributions, Mohan D. Pant, Todd C. Headrick
An L-Moment Based Characterization Of The Family Of Dagum Distributions, Mohan D. Pant, Todd C. Headrick
Mohan Dev Pant
This paper introduces a method for simulating univariate and multivariate Dagum distributions through the method of L-moments and L-correlation. 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 -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, …
An L-Moment Based Characterization Of The Family Of Dagum Distributions, Mohan D. Pant, Todd C. Headrick
An L-Moment Based Characterization Of The Family Of Dagum Distributions, Mohan D. Pant, Todd C. Headrick
Todd Christopher Headrick
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, …