A Quantile Based Income Analysis of Power-Pareto Distribution
DOI:
https://doi.org/10.60923/issn.1973-2201/14913Keywords:
Power-Pareto distribution, Income inequalities, Lorenz ordering, SimulationAbstract
This paper conducts a quantile-based income study of the Power-Pareto distribution. The major income inequality measures of the Power-Pareto distribution are derived, and the Lorenz ordering is studied. A simulation study is conducted to assess the performance of four competing estimation methods. The model is applied to a real income dataset, and both empirical and estimated income inequality measures are computed.
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